Amarin (NASDAQ:AMRN) Cut to Hold at Wall Street Zen

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

Several other equities analysts have also recently weighed in on AMRN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amarin in a research note on Friday, July 17th. Zacks Research upgraded shares of Amarin from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Amarin Price Performance

Amarin stock opened at $13.81 on Friday. Amarin has a 1 year low of $12.96 and a 1 year high of $20.90. The firm’s 50 day moving average price is $14.89 and its 200-day moving average price is $14.89. The stock has a market cap of $289.60 million, a P/E ratio of -21.25 and a beta of 0.80.

Institutional Trading of Amarin

Several hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp grew its holdings in shares of Amarin by 449,522.1% in the first 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 in the last quarter. Millennium Management LLC increased its position in Amarin by 192.6% in the third quarter. Millennium Management LLC now owns 132,391 shares of the biopharmaceutical company’s stock worth $2,169,000 after purchasing an additional 87,147 shares during the last quarter. Waterfront Wealth Inc. raised its stake in Amarin by 82.8% during the fourth quarter. Waterfront Wealth Inc. now owns 142,540 shares of the biopharmaceutical company’s stock valued at $1,990,000 after purchasing an additional 64,580 shares in the last quarter. Jump Financial LLC purchased a new stake in Amarin during the second quarter valued at $623,000. Finally, Renaissance Technologies LLC bought a new position in Amarin during the first quarter valued at $278,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

About Amarin

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.