Amarin (NASDAQ:AMRN) Now Covered by Analysts at StockNews.com

Analysts at StockNews.com assumed coverage on shares of Amarin (NASDAQ:AMRN) in a research report issued to clients and investors on Tuesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Amarin Price Performance

Shares of NASDAQ AMRN traded down $0.03 during midday trading on Tuesday, hitting $0.50. 1,913,485 shares of the company’s stock were exchanged, compared to its average volume of 1,540,898. Amarin has a twelve month low of $0.46 and a twelve month high of $1.37. The firm has a market cap of $205.17 million, a P/E ratio of -5.55 and a beta of 1.92. The stock’s 50 day moving average price is $0.58 and its 200-day moving average price is $0.67.

Amarin (NASDAQ:AMRN) last posted its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $42.30 million during the quarter, compared to the consensus estimate of $43.82 million. Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. During the same quarter last year, the business earned ($0.05) earnings per share. On average, analysts expect that Amarin will post -0.13 EPS for the current fiscal year.

Institutional Trading of Amarin

Several large investors have recently added to or reduced their stakes in AMRN. Waterfront Wealth Inc. lifted its position in shares of Amarin by 63.7% in the second quarter. Waterfront Wealth Inc. now owns 860,613 shares of the biopharmaceutical company’s stock worth $592,000 after purchasing an additional 334,969 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Amarin by 8.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock valued at $816,000 after buying an additional 104,939 shares during the period. Prospect Financial Services LLC acquired a new stake in shares of Amarin during the 2nd quarter valued at $41,000. Algert Global LLC acquired a new position in shares of Amarin in the second quarter worth $34,000. Finally, Kornitzer Capital Management Inc. KS increased its stake in shares of Amarin by 80.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 42,700 shares during the last quarter. 22.25% of the stock is owned by institutional investors and hedge funds.

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.