Amarin (NASDAQ:AMRN) Stock Rating 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 report released on Sunday,Wall Street Zen reports.

AMRN has been the subject of several other research reports. Zacks Research cut Amarin from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 3rd. JPMorgan Chase & Co. initiated coverage on Amarin in a report on Friday, August 21st. They set an “underweight” rating and a $13.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Amarin in a research report on Thursday, October 15th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Sell” and a consensus target price of $13.00.

Amarin Stock Performance

Shares of AMRN stock opened at $11.61 on Friday. The firm has a market capitalization of $245.24 million, a P/E ratio of -12.09 and a beta of 0.81. Amarin has a 1 year low of $11.25 and a 1 year high of $17.31. The firm’s fifty day simple moving average is $12.75 and its 200 day simple moving average is $14.24.

Amarin (NASDAQ:AMRN) last posted its quarterly earnings results on Wednesday, October 28th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.11. The company had revenue of $39.55 million for the quarter, compared to analyst estimates of $43.76 million. Amarin had a negative net margin of 10.87% and a negative return on equity of 0.52%. Equities research analysts anticipate that Amarin will post -0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd raised its holdings in shares of Amarin by 190.9% in the 3rd quarter. R Squared Ltd now owns 49,272 shares of the biopharmaceutical company’s stock worth $641,000 after buying an additional 32,334 shares in the last quarter. Brooklands Fund Management Ltd boosted its stake in Amarin by 23.1% in the 3rd quarter. Brooklands Fund Management Ltd now owns 218,373 shares of the biopharmaceutical company’s stock valued at $2,839,000 after buying an additional 41,048 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Amarin in the 3rd quarter valued at $146,000. LCM Capital Management Inc boosted its stake in Amarin by 17.1% in the 3rd quarter. LCM Capital Management Inc now owns 60,162 shares of the biopharmaceutical company’s stock valued at $782,000 after buying an additional 8,800 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Amarin by 197.4% in the second quarter. GAMMA Investing LLC now owns 1,576 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 1,046 shares during the period. Institutional investors own 22.25% of the company’s stock.

About Amarin

Amarin Corporation plc is a biopharmaceutical company focused on developing and commercializing therapies intended to reduce cardiovascular risk. Its principal product is VASCEPA (icosapent ethyl), a prescription omega-3 fatty-acid medicine derived from highly purified eicosapentaenoic acid.

VASCEPA was initially approved in the United States to help lower triglyceride levels in certain patients and later received expanded approval to reduce the risk of cardiovascular events in eligible adults with elevated cardiovascular risk.