StockNews.com Downgrades Amarin (NASDAQ:AMRN) to Hold

StockNews.com downgraded shares of Amarin (NASDAQ:AMRN) from a buy rating to a hold rating in a research report released on Tuesday morning.

Separately, Cantor Fitzgerald reaffirmed an overweight rating on shares of Amarin in a report on Tuesday, June 18th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $1.08.

Amarin Stock Down 1.8 %

Shares of Amarin stock opened at $0.69 on Tuesday. The firm has a market cap of $282.54 million, a PE ratio of -5.73 and a beta of 1.98. The business has a 50-day moving average price of $0.82 and a 200 day moving average price of $0.95. Amarin has a twelve month low of $0.63 and a twelve month high of $1.49.

Amarin (NASDAQ:AMRN) last posted its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Amarin had a negative return on equity of 9.48% and a negative net margin of 18.96%. The business had revenue of $56.52 million during the quarter, compared to analysts’ expectations of $51.34 million. During the same period in the previous year, the business earned ($0.04) earnings per share. On average, sell-side analysts expect that Amarin will post -0.18 EPS for the current year.

Institutional Investors Weigh In On Amarin

A number of large investors have recently modified their holdings of the business. Significant Wealth Partners LLC lifted its position in Amarin by 128.7% during the first quarter. Significant Wealth Partners LLC now owns 34,582 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 19,461 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Amarin by 100.6% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 46,480 shares of the biopharmaceutical company’s stock valued at $40,000 after acquiring an additional 23,313 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Amarin by 66.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 74,178 shares of the biopharmaceutical company’s stock valued at $66,000 after purchasing an additional 29,579 shares during the period. SVB Wealth LLC increased its position in Amarin by 100.0% during the fourth quarter. SVB Wealth LLC now owns 60,000 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 30,000 shares during the last quarter. Finally, LCM Capital Management Inc raised its stake in Amarin by 5.1% during the fourth quarter. LCM Capital Management Inc now owns 740,159 shares of the biopharmaceutical company’s stock worth $644,000 after purchasing an additional 36,000 shares during the period. Hedge funds and other 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.