Amarin (NASDAQ:AMRN) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Amarin (NASDAQ:AMRN) from a sell rating to a hold rating in a report published on Monday morning.

Amarin Trading Down 6.7 %

AMRN stock opened at $0.51 on Monday. The company’s 50-day moving average price is $0.51 and its 200 day moving average price is $0.59. Amarin has a 52 week low of $0.43 and a 52 week high of $1.37. The company has a market cap of $211.37 million, a P/E ratio of -5.72 and a beta of 1.82.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $42.30 million for the quarter, compared to analysts’ expectations of $43.82 million. Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. During the same period last year, the firm earned ($0.05) EPS. On average, equities research analysts expect that Amarin will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On Amarin

Several hedge funds have recently added to or reduced their stakes in AMRN. China Universal Asset Management Co. Ltd. grew its position in shares of Amarin by 63.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 29,992 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in Amarin by 80.7% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock valued at $60,000 after buying an additional 42,700 shares during the last quarter. Algert Global LLC purchased a new position in Amarin during the second quarter worth $34,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Amarin by 8.8% in the third quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock worth $816,000 after acquiring an additional 104,939 shares during the last quarter. 22.25% of the stock is currently owned by hedge funds and other 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.