Zacks Research Upgrades Amarin (NASDAQ:AMRN) to “Strong-Buy”

Amarin (NASDAQ:AMRN) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research firms also recently issued reports on AMRN. Weiss Ratings restated a “sell (d-)” rating on shares of Amarin in a research report on Wednesday, October 8th. The Goldman Sachs Group upped their target price on shares of Amarin from $7.00 to $12.00 and gave the company a “sell” rating in a research report on Wednesday, June 25th. Finally, Wall Street Zen upgraded shares of Amarin from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.00.

Amarin Stock Down 1.5%

Shares of AMRN opened at $19.94 on Monday. Amarin has a 12-month low of $7.08 and a 12-month high of $20.65. The firm has a market capitalization of $412.36 million, a PE ratio of -5.43 and a beta of 0.62. The stock’s fifty day simple moving average is $16.47 and its 200-day simple moving average is $14.07.

Amarin (NASDAQ:AMRN) last released its earnings results on Wednesday, July 30th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.63. Amarin had a negative net margin of 47.22% and a negative return on equity of 21.18%. The company had revenue of $72.74 million for the quarter, compared to the consensus estimate of $45.45 million. Analysts anticipate that Amarin will post -0.15 EPS for the current year.

Institutional Investors Weigh In On Amarin

Large investors have recently modified their holdings of the business. Banque Cantonale Vaudoise bought a new stake in shares of Amarin in the first quarter worth about $25,000. GPS Wealth Strategies Group LLC bought a new stake in shares of Amarin in the second quarter worth about $32,000. Kornitzer Capital Management Inc. KS increased its holdings in shares of Amarin by 4.0% in the first quarter. Kornitzer Capital Management Inc. KS now owns 88,200 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 3,400 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Amarin in the second quarter worth about $44,000. Finally, Stonepine Capital Management LLC increased its holdings in shares of Amarin by 470.3% in the first quarter. Stonepine Capital Management LLC now owns 651,614 shares of the biopharmaceutical company’s stock worth $293,000 after acquiring an additional 537,357 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.