Wall Street Zen Upgrades Amarin (NASDAQ:AMRN) to Strong-Buy

Amarin (NASDAQ:AMRN) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

A number of other analysts have also recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Amarin in a research report on Wednesday, October 8th. Zacks Research cut Amarin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Sell” and an average target price of $12.00.

Amarin Stock Down 0.7%

Amarin stock opened at $16.29 on Friday. The company’s fifty day simple moving average is $16.89 and its 200-day simple moving average is $14.66. Amarin has a 12 month low of $7.08 and a 12 month high of $20.90. The stock has a market cap of $336.88 million, a P/E ratio of -6.54 and a beta of 0.68.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings data on Wednesday, October 29th. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.33). The firm had revenue of $48.56 million for the quarter, compared to analysts’ expectations of $42.04 million. Amarin had a negative return on equity of 16.31% and a negative net margin of 38.01%. On average, equities research analysts expect that Amarin will post -0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amarin

Several large investors have recently made changes to their positions in AMRN. Acadian Asset Management LLC raised its holdings in Amarin by 112.3% in the 1st quarter. Acadian Asset Management LLC now owns 3,791,515 shares of the biopharmaceutical company’s stock valued at $1,685,000 after acquiring an additional 2,005,713 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Amarin by 449,522.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company’s stock valued at $815,000 after acquiring an additional 1,811,574 shares in the last quarter. LCM Capital Management Inc raised its holdings in Amarin by 2.4% in the 1st quarter. LCM Capital Management Inc now owns 858,259 shares of the biopharmaceutical company’s stock valued at $385,000 after acquiring an additional 20,000 shares in the last quarter. Stonepine Capital Management LLC raised its holdings in Amarin by 470.3% in the 1st quarter. Stonepine Capital Management LLC now owns 651,614 shares of the biopharmaceutical company’s stock valued at $293,000 after acquiring an additional 537,357 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its holdings in Amarin by 4.0% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 88,200 shares of the biopharmaceutical company’s stock valued at $40,000 after acquiring an additional 3,400 shares in the last quarter. Institutional investors and hedge funds own 22.25% of the company’s stock.

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.