Amarin (NASDAQ:AMRN) Upgraded by Zacks Research to Strong-Buy Rating

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

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amarin in a research report on Monday, April 20th. Wall Street Zen cut shares of Amarin from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Amarin currently has an average rating of “Hold” and a consensus target price of $12.00.

Amarin Stock Up 4.0%

AMRN opened at $15.77 on Tuesday. Amarin has a twelve month low of $12.30 and a twelve month high of $20.90. The company has a 50-day simple moving average of $14.60 and a 200 day simple moving average of $14.74. The stock has a market capitalization of $330.70 million, a price-to-earnings ratio of -24.26 and a beta of 0.82.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Banque Cantonale Vaudoise bought a new position in shares of Amarin in the third quarter worth about $32,000. Headlands Technologies LLC acquired a new position in shares of Amarin in the second quarter valued at approximately $44,000. Brooklands Fund Management Ltd acquired a new position in shares of Amarin in the fourth quarter valued at approximately $42,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Amarin by 1,816.7% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,750 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 5,450 shares during the period. Finally, New York State Common Retirement Fund increased its stake in shares of Amarin by 56.8% in the fourth quarter. New York State Common Retirement Fund now owns 7,605 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 2,756 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 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.