Amarin (NASDAQ:AMRN) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Amarin (NASDAQ:AMRN) from a hold rating to a sell rating in a research note released on Wednesday.

Amarin Stock Down 1.8 %

Shares of NASDAQ:AMRN opened at $0.48 on Wednesday. The firm has a market capitalization of $198.11 million, a PE ratio of -5.36 and a beta of 1.83. The company has a 50-day moving average price of $0.56 and a two-hundred day moving average price of $0.65. Amarin has a twelve month low of $0.46 and a twelve month high of $1.37.

Amarin (NASDAQ:AMRN) last released its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $43.82 million. During the same period last year, the business posted ($0.05) earnings per share. Analysts anticipate that Amarin will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amarin

Several hedge funds and other institutional investors have recently modified their holdings of AMRN. China Universal Asset Management Co. Ltd. grew its stake in Amarin by 63.9% during 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 acquiring an additional 29,992 shares in the last quarter. Longitude Cayman Ltd. boosted its holdings in Amarin by 1.5% in the 2nd quarter. Longitude Cayman Ltd. now owns 2,390,000 shares of the biopharmaceutical company’s stock valued at $1,649,000 after purchasing an additional 35,000 shares during the period. Kornitzer Capital Management Inc. KS grew its position in shares of 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 purchasing an additional 42,700 shares in the last quarter. Algert Global LLC bought a new position in shares of Amarin in the second quarter worth $34,000. Finally, Prospect Financial Services LLC purchased a new stake in shares of Amarin in the second quarter worth $41,000. 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.