Amarin (NASDAQ:AMRN) Stock Rating Lowered by StockNews.com

Amarin (NASDAQ:AMRN) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Amarin in a research report on Tuesday, June 18th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $1.08.

Amarin Trading Down 4.1 %

AMRN opened at $0.70 on Tuesday. The company has a 50 day moving average of $0.83 and a 200 day moving average of $0.95. The company has a market cap of $286.73 million, a PE ratio of -5.82 and a beta of 1.98. Amarin has a 12 month low of $0.63 and a 12 month high of $1.49.

Amarin (NASDAQ:AMRN) last released its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. Amarin had a negative net margin of 18.96% and a negative return on equity of 9.48%. The company had revenue of $56.52 million during the quarter, compared to the consensus estimate of $51.34 million. During the same period last year, the firm earned ($0.04) EPS. Research analysts forecast that Amarin will post -0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amarin

Several hedge funds and other institutional investors have recently modified their holdings of AMRN. Significant Wealth Partners LLC raised its stake in Amarin by 128.7% in the first quarter. Significant Wealth Partners LLC now owns 34,582 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 19,461 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Amarin in the first quarter worth about $37,000. China Universal Asset Management Co. Ltd. grew its holdings in Amarin by 351.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 44,599 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 34,725 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in Amarin by 100.6% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 46,480 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 23,313 shares during the period. Finally, SVB Wealth LLC grew its holdings in Amarin by 100.0% in the fourth quarter. SVB Wealth LLC now owns 60,000 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 30,000 shares during the period. 22.25% of the stock is owned by institutional investors.

About Amarin

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.