Amarin (NASDAQ:AMRN) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Amarin (NASDAQ:AMRN) from a buy rating to a hold rating in a research report sent to investors on Saturday.

AMRN has been the subject of several other research reports. Zacks Research cut shares of Amarin from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amarin in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat, Amarin presently has a consensus rating of “Strong Sell” and an average target price of $12.00.

Amarin Price Performance

AMRN opened at $13.80 on Friday. The business has a fifty day simple moving average of $14.80 and a 200 day simple moving average of $15.75. Amarin has a 1 year low of $7.08 and a 1 year high of $20.90. The company has a market capitalization of $286.90 million, a PE ratio of -153.33 and a beta of 0.84.

Amarin (NASDAQ:AMRN) last posted its quarterly earnings data on Wednesday, February 25th. The biopharmaceutical company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($1.27) by $1.28. The firm had revenue of $49.22 million for the quarter, compared to analysts’ expectations of $50.62 million. Amarin had a negative return on equity of 5.44% and a negative net margin of 18.16%. Equities analysts anticipate that Amarin will post -0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amarin

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its stake in shares of 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 purchasing an additional 1,811,574 shares during the last quarter. GPS Wealth Strategies Group LLC bought a new stake in shares of Amarin during the 2nd quarter worth $32,000. Jump Financial LLC acquired a new stake in Amarin in the second quarter valued at about $623,000. George Kaiser Family Foundation bought a new position in Amarin in the second quarter valued at about $620,000. Finally, Headlands Technologies LLC acquired a new position in Amarin during the second quarter worth about $44,000. 22.25% of the stock is currently owned by institutional investors.

Amarin Company Profile

Amarin Corporation plc is a biopharmaceutical company focused on the commercialization and development of therapeutics for cardiovascular health. Founded in 1993 and headquartered in Dublin, Ireland, the company is publicly traded on the NASDAQ under the ticker AMRN. Amarin’s primary mission is to improve cardiovascular outcomes through innovative lipid science and evidence-based therapies.

The company’s flagship product is Vascepa® (icosapent ethyl), a high-purity prescription omega-3 fatty acid approved for the treatment of severe hypertriglyceridemia and as an adjunct to statin therapy to reduce the risk of cardiovascular events.