StockNews.com Downgrades Amarin (NASDAQ:AMRN) to Hold

Amarin (NASDAQ:AMRN) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Separately, Cantor Fitzgerald reissued an “overweight” rating on shares of Amarin in a research report on Tuesday, June 18th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Amarin currently has a consensus rating of “Hold” and a consensus price target of $1.08.

Amarin Stock Up 7.3 %

Shares of NASDAQ AMRN opened at $0.74 on Thursday. Amarin has a twelve month low of $0.63 and a twelve month high of $1.49. The business’s 50 day moving average price is $0.80 and its two-hundred day moving average price is $0.95. The company has a market cap of $302.46 million, a PE ratio of -6.14 and a beta of 1.95.

Amarin (NASDAQ:AMRN) last posted its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. Amarin had a negative return on equity of 9.48% and a negative net margin of 18.96%. The company had revenue of $56.52 million for the quarter, compared to the consensus estimate of $51.34 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. As a group, research analysts anticipate that Amarin will post -0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Amarin

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMRN. China Universal Asset Management Co. Ltd. lifted its stake in Amarin by 351.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 44,599 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 34,725 shares during the last quarter. SVB Wealth LLC lifted its stake in shares of Amarin by 100.0% in the 4th quarter. SVB Wealth LLC now owns 60,000 shares of the biopharmaceutical company’s stock valued at $52,000 after acquiring an additional 30,000 shares during the last quarter. Waterfront Wealth Inc. lifted its stake in shares of Amarin by 18.0% in the 4th quarter. Waterfront Wealth Inc. now owns 386,735 shares of the biopharmaceutical company’s stock valued at $336,000 after acquiring an additional 58,942 shares during the last quarter. Gilliland Jeter Wealth Management LLC bought a new position in shares of Amarin in the 4th quarter valued at $64,000. Finally, LCM Capital Management Inc lifted its stake in shares of Amarin by 5.1% in the 4th quarter. LCM Capital Management Inc now owns 740,159 shares of the biopharmaceutical company’s stock valued at $644,000 after acquiring an additional 36,000 shares during the last quarter. 22.25% of the stock is currently 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.