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

Investment analysts at StockNews.com began coverage on shares of Amarin (NASDAQ:AMRN) in a research note issued on Sunday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Amarin Stock Up 5.0 %

Shares of NASDAQ:AMRN opened at $0.46 on Friday. Amarin has a 52 week low of $0.35 and a 52 week high of $1.11. The company has a market cap of $187.72 million, a P/E ratio of -5.08 and a beta of 1.82. The business has a fifty day simple moving average of $0.54 and a 200-day simple moving average of $0.54.

Shares of Amarin are going to reverse split 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.

Amarin (NASDAQ:AMRN) last issued its earnings results on Wednesday, March 12th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. The firm had revenue of $62.31 million during the quarter, compared to analyst estimates of $32.37 million. Sell-side analysts expect that Amarin will post -0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stonepine Capital Management LLC acquired a new position in shares of Amarin during the fourth quarter worth about $55,000. BNP Paribas Financial Markets lifted its stake in shares of Amarin by 3.0% during the fourth quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company’s stock worth $650,000 after purchasing an additional 39,452 shares in the last quarter. AXA S.A. acquired a new position in shares of Amarin during the fourth quarter worth about $480,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Amarin during the fourth quarter worth about $171,000. Finally, Jane Street Group LLC acquired a new position in shares of Amarin in the fourth quarter worth about $130,000. Institutional investors and hedge funds 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.