Amarin (NASDAQ:AMRN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Amarin (NASDAQ:AMRN) from a hold rating to a buy rating in a research report report published on Saturday morning,Wall Street Zen reports.

A number of other brokerages have also weighed in on AMRN. Zacks Research upgraded shares of Amarin from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. JPMorgan Chase & Co. began coverage on Amarin in a report on Friday, August 21st. They set an “underweight” rating and a $13.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amarin in a research report on Thursday, October 15th. 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, the stock has an average rating of “Hold” and an average target price of $13.00.

Amarin Trading Up 0.2%

AMRN stock opened at $12.13 on Friday. The company has a market cap of $256.22 million, a P/E ratio of -12.64 and a beta of 0.76. The company’s 50-day moving average price is $12.93 and its 200 day moving average price is $14.31. Amarin has a 52 week low of $11.25 and a 52 week high of $17.31.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings data on Wednesday, October 28th. The biopharmaceutical company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.11. The firm had revenue of $39.55 million for the quarter, compared to analysts’ expectations of $43.76 million. Amarin had a negative net margin of 10.87% and a negative return on equity of 0.51%. On average, equities research analysts expect that Amarin will post -0.85 earnings per share for the current year.

Institutional Investors Weigh In On Amarin

Several large investors have recently made changes to their positions in AMRN. Brooklands Fund Management Ltd boosted its stake in Amarin by 23.1% during the third 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 position in Amarin during the third quarter worth about $146,000. LCM Capital Management Inc raised its position in Amarin by 17.1% in the third quarter. LCM Capital Management Inc now owns 60,162 shares of the biopharmaceutical company’s stock worth $782,000 after acquiring an additional 8,800 shares in the last quarter. GAMMA Investing LLC raised 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 worth $25,000 after acquiring an additional 1,046 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Amarin in the 1st quarter valued at about $278,000. Institutional investors and hedge funds 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.