StockNews.com lowered shares of Amarin (NASDAQ:AMRN – Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday.
Amarin Price Performance
Amarin stock opened at $0.41 on Friday. The firm has a 50-day moving average of $0.55 and a 200-day moving average of $0.55. The company has a market cap of $169.94 million, a price-to-earnings ratio of -4.60 and a beta of 1.82. Amarin has a one year low of $0.35 and a one year high of $1.11.
Amarin shares are set to reverse split before the market opens on Friday, April 11th. The 1-20 reverse split was announced on Wednesday, March 12th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, April 10th.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Waterfront Wealth Inc. lifted its stake in Amarin by 181.4% in the 4th quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock valued at $1,204,000 after purchasing an additional 1,599,956 shares during the last quarter. AXA S.A. acquired a new stake in shares of Amarin in the fourth quarter valued at approximately $480,000. Raymond James Financial Inc. bought a new position in shares of Amarin during the 4th quarter worth approximately $343,000. Quinn Opportunity Partners LLC increased its holdings in shares of Amarin by 85.2% during the 4th quarter. Quinn Opportunity Partners LLC now owns 1,106,539 shares of the biopharmaceutical company’s stock worth $537,000 after acquiring an additional 508,989 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Amarin in the 4th quarter valued at $171,000. 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.
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