Amarin (NASDAQ:AMRN) Raised to Buy at StockNews.com

Amarin (NASDAQ:AMRN) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

Amarin Price Performance

AMRN traded down $0.02 during trading on Monday, reaching $0.76. 618,177 shares of the stock were exchanged, compared to its average volume of 1,879,518. The business’s 50 day moving average price is $0.87 and its two-hundred day moving average price is $0.96. The company has a market capitalization of $311.29 million, a price-to-earnings ratio of -6.32 and a beta of 1.99. Amarin has a 1 year low of $0.63 and a 1 year high of $1.49.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. Amarin had a negative return on equity of 9.48% and a negative net margin of 18.96%. The business had revenue of $56.52 million for the quarter, compared to the consensus estimate of $51.34 million. During the same period in the prior year, the business earned ($0.04) earnings per share. On average, analysts anticipate that Amarin will post -0.18 EPS for the current year.

Hedge Funds Weigh In On Amarin

Large investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. lifted its position in Amarin by 351.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 44,599 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 34,725 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Amarin by 100.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 46,480 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 23,313 shares during the period. SVB Wealth LLC increased its stake in Amarin by 100.0% during the fourth quarter. SVB Wealth LLC now owns 60,000 shares of the biopharmaceutical company’s stock worth $52,000 after acquiring an additional 30,000 shares during the last quarter. LCM Capital Management Inc increased its stake in Amarin by 5.1% during the fourth quarter. LCM Capital Management Inc now owns 740,159 shares of the biopharmaceutical company’s stock worth $644,000 after acquiring an additional 36,000 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Amarin by 705.2% during the fourth quarter. BNP Paribas Financial Markets now owns 455,177 shares of the biopharmaceutical company’s stock worth $396,000 after acquiring an additional 398,648 shares during the last quarter. 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.