Amarin (NASDAQ:AMRN) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Amarin (NASDAQ:AMRN) in a report released on Tuesday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Amarin Stock Down 5.6 %

Shares of AMRN stock opened at $0.50 on Tuesday. Amarin has a 12-month low of $0.46 and a 12-month high of $1.37. The company has a 50 day moving average of $0.58 and a 200-day moving average of $0.67. The firm has a market cap of $205.17 million, a P/E ratio of -5.55 and a beta of 1.92.

Amarin (NASDAQ:AMRN) last issued its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. The firm 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 earned ($0.05) earnings per share. As a group, equities analysts expect that Amarin will post -0.13 EPS for the current year.

Institutional Trading of Amarin

A number of hedge funds and other institutional investors have recently made changes to their positions in AMRN. Waterfront Wealth Inc. grew its holdings in Amarin by 63.7% during the 2nd quarter. Waterfront Wealth Inc. now owns 860,613 shares of the biopharmaceutical company’s stock valued at $592,000 after buying an additional 334,969 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Amarin by 8.8% in the third quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock valued at $816,000 after acquiring an additional 104,939 shares during the period. Prospect Financial Services LLC purchased a new position in Amarin during the second quarter valued at approximately $41,000. Algert Global LLC bought a new stake in Amarin during the 2nd quarter worth approximately $34,000. Finally, Kornitzer Capital Management Inc. KS increased its holdings in Amarin by 80.7% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 42,700 shares during the period. 22.25% of the stock is currently owned by institutional investors.

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.