Amarin (NASDAQ:AMRN) Rating Reiterated by Cantor Fitzgerald

Amarin (NASDAQ:AMRN)‘s stock had its “overweight” rating restated by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday, Benzinga reports.

Separately, StockNews.com raised Amarin from a “hold” rating to a “buy” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Amarin has a consensus rating of “Hold” and a consensus price target of $1.08.

Amarin Stock Down 3.7 %

Shares of NASDAQ:AMRN opened at $0.73 on Tuesday. Amarin has a twelve month low of $0.63 and a twelve month high of $1.49. The stock’s 50 day moving average is $0.85 and its 200-day moving average is $0.96. The firm has a market capitalization of $299.83 million, a price-to-earnings ratio of -6.08 and a beta of 1.98.

Amarin (NASDAQ:AMRN) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $51.34 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. Equities research analysts anticipate that Amarin will post -0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amarin

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP raised its position in Amarin by 74.4% in the 1st quarter. GSA Capital Partners LLP now owns 1,482,540 shares of the biopharmaceutical company’s stock valued at $1,321,000 after buying an additional 632,497 shares during the last quarter. Axxcess Wealth Management LLC grew its stake in Amarin by 4.5% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,274,283 shares of the biopharmaceutical company’s stock valued at $1,172,000 after purchasing an additional 54,955 shares during the period. Hayek Kallen Investment Management grew its stake in Amarin by 63.3% in the 4th quarter. Hayek Kallen Investment Management now owns 1,016,760 shares of the biopharmaceutical company’s stock valued at $885,000 after purchasing an additional 394,117 shares during the period. BNP Paribas Financial Markets grew its stake in Amarin by 104.8% in the 1st quarter. BNP Paribas Financial Markets now owns 932,173 shares of the biopharmaceutical company’s stock valued at $830,000 after purchasing an additional 476,996 shares during the period. Finally, LCM Capital Management Inc grew its stake in Amarin by 9.2% in the 1st quarter. LCM Capital Management Inc now owns 808,159 shares of the biopharmaceutical company’s stock valued at $720,000 after purchasing an additional 68,000 shares during the period. 22.25% of the stock is 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.