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

StockNews.com started coverage on shares of Amarin (NASDAQ:AMRN) in a research report sent to investors on Sunday. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Amarin Price Performance

Shares of NASDAQ:AMRN opened at $0.46 on Friday. The firm has a market capitalization of $188.50 million, a price-to-earnings ratio of -5.10 and a beta of 1.82. The business’s 50 day simple moving average is $0.54 and its 200-day simple moving average is $0.54. Amarin has a 12 month low of $0.35 and a 12 month high of $1.11.

Amarin’s stock is scheduled 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 market closes on Thursday, April 10th.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings results on Wednesday, March 12th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. The business had revenue of $62.31 million during the quarter, compared to analysts’ expectations of $32.37 million. On average, equities analysts anticipate that Amarin will post -0.15 earnings per share for the current year.

Institutional Trading of Amarin

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Waterfront Wealth Inc. increased its position in Amarin by 181.4% during the 4th quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock worth $1,204,000 after purchasing an additional 1,599,956 shares in the last quarter. AXA S.A. acquired a new stake in shares of Amarin during the 4th quarter worth about $480,000. Raymond James Financial Inc. purchased a new stake in shares of Amarin during the fourth quarter worth about $343,000. Quinn Opportunity Partners LLC raised its position in shares of Amarin by 85.2% in the fourth quarter. Quinn Opportunity Partners LLC now owns 1,106,539 shares of the biopharmaceutical company’s stock valued at $537,000 after buying an additional 508,989 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Amarin during the fourth quarter valued at approximately $171,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

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.