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

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

Amarin Stock Performance

Shares of NASDAQ AMRN traded down $0.03 during mid-day trading on Tuesday, reaching $0.50. 1,913,485 shares of the company traded hands, compared to its average volume of 1,540,898. The company’s fifty day moving average is $0.58 and its two-hundred day moving average is $0.67. Amarin has a fifty-two week low of $0.46 and a fifty-two week high of $1.37. The stock has a market cap of $205.17 million, a PE ratio of -5.55 and a beta of 1.92.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate 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 company had revenue of $42.30 million for the quarter, compared to analyst estimates of $43.82 million. During the same quarter last year, the business earned ($0.05) EPS. Research analysts forecast that Amarin will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On Amarin

A number of institutional investors have recently made changes to their positions in the business. Arkfeld Wealth Strategies L.L.C. bought a new position in Amarin during the second quarter worth $28,000. Algert Global LLC bought a new position in shares of Amarin during the 2nd quarter worth about $34,000. Prospect Financial Services LLC bought a new stake in shares of Amarin in the second quarter valued at about $41,000. China Universal Asset Management Co. Ltd. grew its position in Amarin by 63.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 29,992 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its stake in Amarin by 80.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 42,700 shares during the period. 22.25% of the stock is currently 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.