Amarin (NASDAQ:AMRN) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Amarin (NASDAQ:AMRN) in a research report issued to clients and investors on Friday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Amarin Price Performance

NASDAQ:AMRN opened at $0.47 on Friday. The company has a market capitalization of $191.17 million, a P/E ratio of -5.17 and a beta of 1.83. The business has a fifty day simple moving average of $0.54 and a two-hundred day simple moving average of $0.62. 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $42.30 million during the quarter, compared to the consensus estimate of $43.82 million. Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. As a group, analysts anticipate that Amarin will post -0.14 earnings per share for the current year.

Institutional Investors Weigh In On Amarin

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Algert Global LLC purchased a new stake in shares of Amarin in the 2nd quarter valued at about $34,000. China Universal Asset Management Co. Ltd. increased its position in shares of Amarin by 63.9% in the third 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 during the last quarter. Kornitzer Capital Management Inc. KS raised its stake in Amarin by 80.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 42,700 shares in the last quarter. Waterfront Wealth Inc. lifted its position in Amarin by 63.7% during the second quarter. Waterfront Wealth Inc. now owns 860,613 shares of the biopharmaceutical company’s stock valued at $592,000 after purchasing an additional 334,969 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in 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 in the last quarter. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.