Amarin (NASDAQ:AMRN – Get Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.
Separately, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Amarin in a research report on Tuesday, June 18th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Amarin presently has an average rating of “Hold” and an average target price of $1.08.
Amarin Stock Up 2.7 %
Shares of NASDAQ AMRN traded up $0.02 during mid-day trading on Tuesday, hitting $0.73. 2,453,934 shares of the company traded hands, compared to its average volume of 1,866,040. Amarin has a 1 year low of $0.63 and a 1 year high of $1.49. The stock has a market capitalization of $299.09 million, a price-to-earnings ratio of -5.91 and a beta of 1.99. The business has a 50 day moving average of $0.84 and a two-hundred day moving average of $0.96.
Amarin (NASDAQ:AMRN – Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. The firm had revenue of $56.52 million during the quarter, compared to the consensus estimate of $51.34 million. Amarin had a negative return on equity of 9.48% and a negative net margin of 18.96%. During the same period in the prior year, the business earned ($0.04) EPS. As a group, research analysts anticipate that Amarin will post -0.18 EPS for the current year.
Institutional Trading of Amarin
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP grew its holdings in Amarin by 74.4% in the 1st quarter. GSA Capital Partners LLP now owns 1,482,540 shares of the biopharmaceutical company’s stock valued at $1,321,000 after buying an additional 632,497 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in Amarin by 4.5% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,274,283 shares of the biopharmaceutical company’s stock valued at $1,172,000 after buying an additional 54,955 shares during the last quarter. Hayek Kallen Investment Management grew its holdings in Amarin by 63.3% in the 4th quarter. Hayek Kallen Investment Management now owns 1,016,760 shares of the biopharmaceutical company’s stock valued at $885,000 after buying an additional 394,117 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Amarin by 104.8% in the 1st quarter. BNP Paribas Financial Markets now owns 932,173 shares of the biopharmaceutical company’s stock valued at $830,000 after buying an additional 476,996 shares during the last quarter. Finally, LCM Capital Management Inc grew its holdings in Amarin by 9.2% in the 1st quarter. LCM Capital Management Inc now owns 808,159 shares of the biopharmaceutical company’s stock valued at $720,000 after buying an additional 68,000 shares during the last quarter. Institutional investors and hedge funds own 22.25% of the company’s stock.
Amarin Company Profile
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.