StockNews.com Begins Coverage on Amarin (NASDAQ:AMRN)

StockNews.com assumed coverage on shares of Amarin (NASDAQ:AMRN) in a report released on Sunday. The firm issued a sell rating on the biopharmaceutical company’s stock.

Amarin Stock Up 4.7 %

Shares of NASDAQ:AMRN opened at $0.55 on Friday. The company has a market capitalization of $225.87 million, a price-to-earnings ratio of -6.11 and a beta of 1.82. The company has a 50 day moving average of $0.51 and a two-hundred day moving average of $0.60. Amarin has a 52-week low of $0.43 and a 52-week high of $1.37.

Amarin (NASDAQ:AMRN) last released its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. The firm had revenue of $42.30 million for the quarter, compared to analyst estimates of $43.82 million. During the same period in the previous year, the business posted ($0.05) earnings per share. On average, equities analysts anticipate that Amarin will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Algert Global LLC acquired a new stake in Amarin during the 2nd quarter valued at approximately $34,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Amarin by 63.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company’s stock valued at $48,000 after buying an additional 29,992 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its position in shares of Amarin by 80.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 42,700 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Amarin by 8.8% in the third quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock worth $816,000 after buying an additional 104,939 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.