StockNews.com Begins Coverage on Amarin (NASDAQ:AMRN)

Research analysts at StockNews.com began coverage on shares of Amarin (NASDAQ:AMRN) in a note issued to investors on Sunday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Amarin Price Performance

Shares of NASDAQ:AMRN opened at $0.53 on Friday. The company’s 50 day simple moving average is $0.51 and its 200 day simple moving average is $0.60. Amarin has a 1 year low of $0.43 and a 1 year high of $1.37. The stock has a market capitalization of $217.00 million, a price-to-earnings ratio of -5.87 and a beta of 1.83.

Amarin (NASDAQ:AMRN) last posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. The business had revenue of $42.30 million for the quarter, compared to analyst estimates of $43.82 million. During the same period last year, the firm posted ($0.05) EPS. As a group, analysts anticipate that Amarin will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Amarin

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Algert Global LLC bought a new position in Amarin in the 2nd quarter valued at approximately $34,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Amarin by 63.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 29,992 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in Amarin by 80.7% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 42,700 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Amarin by 8.8% during the third quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock valued at $816,000 after purchasing an additional 104,939 shares in the last quarter. 22.25% of the stock is owned by institutional investors.

About Amarin

Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, European countries, Canada, Lebanon, and the United Arab Emirates. The company offers VASCEPA, a prescription-only omega-3 fatty acid product, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.