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

StockNews.com began coverage on shares of Amarin (NASDAQ:AMRN) in a research report sent to investors on Sunday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.

Amarin Price Performance

NASDAQ AMRN opened at $0.53 on Friday. Amarin has a fifty-two week low of $0.43 and a fifty-two week high of $1.37. The stock has a market capitalization of $217.00 million, a PE ratio of -5.87 and a beta of 1.83. The business has a fifty day moving average price of $0.51 and a two-hundred day moving average price of $0.60.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates 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 company posted ($0.05) earnings per share. As a group, sell-side analysts expect that Amarin will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AMRN. BNP Paribas Financial Markets increased its holdings in 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 purchasing an additional 104,939 shares during the period. Kornitzer Capital Management Inc. KS increased its holdings 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 during the period. China Universal Asset Management Co. Ltd. increased its holdings in 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 valued at $48,000 after purchasing an additional 29,992 shares during the period. Finally, Algert Global LLC acquired a new stake in Amarin in the second quarter valued at $34,000. 22.25% of the stock is currently 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.