Amarin (NASDAQ:AMRN) Coverage Initiated at StockNews.com

by · The Markets Daily

Research analysts at StockNews.com assumed coverage on shares of Amarin (NASDAQ:AMRN – Get Free Report) in a research report issued on Sunday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Amarin Stock Up 1.6 %

AMRN stock opened at $0.46 on Friday. The stock has a market capitalization of $190.76 million, a P/E ratio of -5.16 and a beta of 1.82. Amarin has a 52 week low of $0.35 and a 52 week high of $1.11. The firm has a 50-day simple moving average of $0.54 and a 200-day simple moving average of $0.54.

Amarin’s stock is scheduled to reverse split before the market opens on Friday, April 11th. The 1-20 reverse split was announced on Wednesday, March 12th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, April 10th.

Amarin (NASDAQ:AMRN – Get Free Report) last released its earnings results on Wednesday, March 12th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.06). Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. The firm had revenue of $62.31 million during the quarter, compared to analysts’ expectations of $32.37 million. On average, analysts expect that Amarin will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On Amarin

A number of hedge funds have recently modified their holdings of the business. Stonepine Capital Management LLC acquired a new position in Amarin during the fourth quarter worth about $55,000. BNP Paribas Financial Markets boosted its holdings in shares of Amarin by 3.0% during the 4th quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company’s stock worth $650,000 after purchasing an additional 39,452 shares during the last quarter. AXA S.A. acquired a new position in shares of Amarin during the 4th quarter worth approximately $480,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Amarin in the fourth quarter valued at approximately $171,000. Finally, Jane Street Group LLC acquired a new stake in shares of Amarin in the fourth quarter valued at approximately $130,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

About Amarin

(Get Free Report)

Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, European countries, Canada, Lebanon, and the United Arab Emirates. The company offers VASCEPA, a prescription-only omega-3 fatty acid product, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.

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