Amarin (NASDAQ:AMRN) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Amarin (NASDAQ:AMRN) from a hold rating to a sell rating in a report issued on Friday morning.

Amarin Stock Down 1.3 %

NASDAQ AMRN opened at $0.63 on Friday. The company has a market capitalization of $257.45 million, a price-to-earnings ratio of -6.97 and a beta of 1.82. Amarin has a twelve month low of $0.43 and a twelve month high of $1.37. The stock has a fifty day simple moving average of $0.51 and a 200 day simple moving average of $0.59.

Amarin (NASDAQ:AMRN) last released its quarterly 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 return on equity of 7.22% and a negative net margin of 16.33%. The firm had revenue of $42.30 million for the quarter, compared to the consensus estimate of $43.82 million. During the same quarter in the previous year, the business posted ($0.05) EPS. Research analysts expect that Amarin will post -0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amarin

A number of hedge funds have recently added to or reduced their stakes in the business. Arkfeld Wealth Strategies L.L.C. grew its position in shares of Amarin by 52.6% during the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 58,000 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 20,000 shares during the period. Algert Global LLC acquired a new stake in Amarin in the second quarter worth $34,000. China Universal Asset Management Co. Ltd. increased its stake 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 in the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in shares of Amarin by 80.7% during 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. Finally, BNP Paribas Financial Markets boosted its position in shares of Amarin by 8.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock worth $816,000 after purchasing an additional 104,939 shares in the last quarter. 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.