Amarin (NASDAQ:AMRN) Raised to “Hold” at StockNews.com

Amarin (NASDAQ:AMRN) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

Amarin Stock Down 0.3 %

Shares of NASDAQ AMRN opened at $0.55 on Monday. The stock’s 50 day moving average price is $0.51 and its two-hundred day moving average price is $0.60. Amarin has a 52-week low of $0.43 and a 52-week high of $1.37. The stock has a market capitalization of $226.61 million, a P/E ratio of -6.13 and a beta of 1.82.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $42.30 million for the quarter, compared to analyst estimates of $43.82 million. Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. During the same quarter in the previous year, the company posted ($0.05) earnings per share. On average, analysts anticipate that Amarin will post -0.14 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. grew its holdings in shares of Amarin by 63.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company’s stock valued at $48,000 after buying an additional 29,992 shares during the period. Kornitzer Capital Management Inc. KS lifted its position 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 buying an additional 42,700 shares in the last quarter. Algert Global LLC bought a new stake in shares of Amarin in the 2nd quarter valued at about $34,000. 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 valued at $816,000 after buying an additional 104,939 shares during the last quarter. Institutional investors 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.