Amarin (NASDAQ:AMRN) Earns Sell Rating from Analysts at StockNews.com

Research analysts at StockNews.com began coverage on shares of Amarin (NASDAQ:AMRN) in a research note issued on Monday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Amarin Price Performance

Shares of AMRN opened at $0.44 on Monday. Amarin has a one year low of $0.35 and a one year high of $1.11. The firm has a 50 day simple moving average of $0.53 and a two-hundred day simple moving average of $0.54. The company has a market cap of $181.52 million, a P/E ratio of -4.91 and a beta of 1.82.

Shares of Amarin are going to reverse split on the morning of 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) last released its quarterly earnings data on Wednesday, March 12th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. The company had revenue of $62.31 million for the quarter, compared to analyst estimates of $32.37 million. On average, analysts expect that Amarin will post -0.15 earnings per share for the current fiscal year.

Institutional Trading of Amarin

A number of hedge funds have recently made changes to their positions in AMRN. BNP Paribas Financial Markets lifted its holdings in shares of Amarin by 8.8% during the third quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock worth $816,000 after purchasing an additional 104,939 shares during the period. Arkfeld Wealth Strategies L.L.C. increased its position in Amarin by 52.6% during the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 58,000 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 20,000 shares during the period. LCM Capital Management Inc raised its holdings in Amarin by 3.1% during the 4th quarter. LCM Capital Management Inc now owns 838,259 shares of the biopharmaceutical company’s stock worth $407,000 after purchasing an additional 25,100 shares during the last quarter. New York State Common Retirement Fund acquired a new position in Amarin in the fourth quarter valued at $68,000. Finally, Waterfront Wealth Inc. raised its position in shares of Amarin by 181.4% in the 4th quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock worth $1,204,000 after acquiring an additional 1,599,956 shares in the last quarter. 22.25% of the stock is owned by institutional investors and hedge funds.

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.