Amarin (NASDAQ:AMRN) Cut to Sell at StockNews.com

StockNews.com lowered shares of Amarin (NASDAQ:AMRN) from a hold rating to a sell rating in a research note released on Tuesday morning.

Amarin Stock Down 3.7 %

AMRN opened at $0.55 on Tuesday. The stock has a market cap of $226.28 million, a PE ratio of -6.12 and a beta of 1.83. Amarin has a twelve month low of $0.43 and a twelve month high of $1.34. The company has a fifty day moving average of $0.55 and a 200-day moving average of $0.56.

Institutional Inflows and Outflows

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