Amarin (NASDAQ:AMRN) Stock Bumped Down to Hold by Zacks Research

by · The Cerbat Gem

Zacks Research downgraded shares of Amarin (NASDAQ:AMRN – Free Report) from a strong-buy rating to a hold rating in a report released on Tuesday morning,Zacks reports.

A number of other brokerages have also recently issued reports on AMRN. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amarin in a report on Thursday, October 15th. Wall Street Zen raised shares of Amarin from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Finally, JPMorgan Chase & Co. began coverage on shares of Amarin in a research note on Friday, August 21st. They set an “underweight” rating and a $13.00 price target for the company. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell” and a consensus price target of $13.00.

Check Out Our Latest Analysis on Amarin

Amarin Price Performance

Shares of Amarin stock opened at $12.25 on Tuesday. Amarin has a one year low of $11.25 and a one year high of $17.31. The firm has a market capitalization of $258.72 million, a price-to-earnings ratio of -12.76 and a beta of 0.81. The business has a 50-day simple moving average of $12.85 and a 200 day simple moving average of $14.28.

Amarin (NASDAQ:AMRN – Get Free Report) last announced 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. Amarin had a negative return on equity of 0.52% and a negative net margin of 10.87%. The business had revenue of $39.55 million for the quarter, compared to analyst estimates of $43.76 million. On average, sell-side analysts expect that Amarin will post -0.85 EPS for the current year.

Institutional Trading of Amarin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Waterfront Wealth Inc. raised its stake in shares of Amarin by 42.7% in the first quarter. Waterfront Wealth Inc. now owns 203,338 shares of the biopharmaceutical company’s stock worth $2,940,000 after purchasing an additional 60,798 shares during the last quarter. Brooklands Fund Management Ltd boosted its position in shares of 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 during the last quarter. LCM Capital Management Inc boosted its position in shares of Amarin by 17.1% during the third 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 during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Amarin during the first quarter valued at approximately $278,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Amarin during the third quarter worth $146,000. 22.25% of the stock is owned by institutional investors.

About Amarin

(Get Free Report)

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.

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