Amarin Stock Set to Reverse Split on Friday, April 11th (NASDAQ:AMRN)

Shares of Amarin Co. plc (NASDAQ:AMRN) are going 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 closing bell on Thursday, April 10th.

Amarin Price Performance

Shares of AMRN opened at $0.44 on Friday. The company has a market capitalization of $180.78 million, a P/E ratio of -4.89 and a beta of 1.82. Amarin has a one year low of $0.35 and a one year high of $1.11. The business’s 50 day simple moving average is $0.53 and its 200-day simple moving average is $0.54.

Amarin (NASDAQ:AMRN) last posted its quarterly earnings data on Wednesday, March 12th. The biopharmaceutical company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. The business had revenue of $62.31 million during the quarter, compared to analyst estimates of $32.37 million. On average, sell-side analysts anticipate that Amarin will post -0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Amarin in a research report on Sunday, March 23rd. They issued a “sell” rating for the company.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Waterfront Wealth Inc. increased its stake in shares of 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 buying an additional 1,599,956 shares during the period. BNP Paribas Financial Markets boosted its holdings in Amarin by 3.0% in the fourth quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company’s stock valued at $650,000 after acquiring an additional 39,452 shares during the last quarter. Quinn Opportunity Partners LLC increased its position in Amarin by 85.2% in the fourth quarter. Quinn Opportunity Partners LLC now owns 1,106,539 shares of the biopharmaceutical company’s stock worth $537,000 after purchasing an additional 508,989 shares during the period. AXA S.A. bought a new stake in Amarin during the 4th quarter worth about $480,000. Finally, LCM Capital Management Inc lifted its position in Amarin by 3.1% during the 4th quarter. LCM Capital Management Inc now owns 838,259 shares of the biopharmaceutical company’s stock valued at $407,000 after purchasing an additional 25,100 shares during the period. 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.