Amarin (NASDAQ:AMRN) Rating Lowered to Hold at StockNews.com

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

Separately, Cantor Fitzgerald reiterated 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 given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Amarin presently has an average rating of “Hold” and a consensus price target of $1.08.

Amarin Stock Down 2.6 %

AMRN stock opened at $0.69 on Thursday. Amarin has a twelve month low of $0.63 and a twelve month high of $1.49. The company has a market cap of $281.88 million, a PE ratio of -5.72 and a beta of 1.95. The business’s 50-day simple moving average is $0.81 and its 200 day simple moving average is $0.95.

Amarin (NASDAQ:AMRN) last released its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The business had revenue of $56.52 million for the quarter, compared to analysts’ expectations of $51.34 million. Amarin had a negative return on equity of 9.48% and a negative net margin of 18.96%. During the same period in the previous year, the business posted ($0.04) earnings per share. On average, equities research analysts anticipate that Amarin will post -0.18 EPS for the current year.

Institutional Investors Weigh In On Amarin

Several institutional investors and hedge funds have recently made changes to their positions in the company. Significant Wealth Partners LLC lifted its holdings in Amarin by 128.7% during the 1st quarter. Significant Wealth Partners LLC now owns 34,582 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 19,461 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Amarin in the 1st quarter worth approximately $37,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Amarin by 351.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 44,599 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 34,725 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Amarin by 100.6% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 46,480 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 23,313 shares during the last quarter. Finally, SVB Wealth LLC increased its holdings in Amarin by 100.0% during the 4th quarter. SVB Wealth LLC now owns 60,000 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 30,000 shares in the last quarter. 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.