StockNews.com Upgrades Amarin (NASDAQ:AMRN) to “Hold”

Amarin (NASDAQ:AMRN) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Monday.

Amarin Price Performance

NASDAQ:AMRN opened at $0.52 on Monday. The company has a market capitalization of $212.44 million, a price-to-earnings ratio of -5.75 and a beta of 1.82. The business has a 50 day moving average of $0.51 and a 200 day moving average of $0.59. Amarin has a 1-year low of $0.43 and a 1-year high of $1.37.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) earnings per share 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 during the quarter, compared to the consensus estimate of $43.82 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. As a group, sell-side analysts anticipate that Amarin will post -0.14 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Algert Global LLC bought a new position in Amarin during the 2nd quarter worth approximately $34,000. China Universal Asset Management Co. Ltd. boosted its position in Amarin by 63.9% during 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 buying an additional 29,992 shares during the period. Kornitzer Capital Management Inc. KS grew its stake in shares of Amarin by 80.7% in the third 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 during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Amarin by 8.8% in 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 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.