Amarin (NASDAQ:AMRN) Upgraded by StockNews.com to “Hold” Rating

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

Amarin Stock Performance

NASDAQ:AMRN opened at $0.56 on Monday. The company has a market capitalization of $231.82 million, a PE ratio of -6.27 and a beta of 1.82. The company has a 50 day simple moving average of $0.50 and a two-hundred day simple moving average of $0.59. Amarin has a fifty-two week low of $0.43 and a fifty-two week high of $1.37.

Amarin (NASDAQ:AMRN) last announced 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). The company had revenue of $42.30 million for the quarter, compared to analyst estimates 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 business earned ($0.05) EPS. Research analysts predict that Amarin will post -0.14 EPS for the current year.

Institutional Trading of Amarin

Several large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in shares of Amarin by 8.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock worth $816,000 after buying an additional 104,939 shares during the period. Kornitzer Capital Management Inc. KS lifted its holdings in shares of 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. China Universal Asset Management Co. Ltd. lifted its holdings 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 worth $48,000 after purchasing an additional 29,992 shares in the last quarter. Finally, Algert Global LLC bought a new position in shares of Amarin in the 2nd quarter worth $34,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

Amarin Company Profile

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.