Amarin (NASDAQ:AMRN) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Amarin (NASDAQ:AMRN) from a sell rating to a hold rating in a research report report published on Thursday morning.

Amarin Trading Down 2.2 %

Shares of NASDAQ:AMRN opened at $0.46 on Thursday. Amarin has a one year low of $0.45 and a one year high of $1.37. The business’s 50-day simple moving average is $0.55 and its 200 day simple moving average is $0.64.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. The firm had revenue of $42.30 million during the quarter, compared to analyst estimates of $43.82 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. On average, analysts expect that Amarin will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On Amarin

Several large investors have recently modified their holdings of AMRN. Longitude Cayman Ltd. raised its position in shares of Amarin by 1.5% during the 2nd quarter. Longitude Cayman Ltd. now owns 2,390,000 shares of the biopharmaceutical company’s stock valued at $1,649,000 after acquiring an additional 35,000 shares in the last quarter. Waterfront Wealth Inc. increased its position in 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 buying an additional 334,969 shares during the period. Algert Global LLC acquired a new stake in shares of Amarin in the 2nd quarter worth about $34,000. China Universal Asset Management Co. Ltd. grew its position in Amarin by 63.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 29,992 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its position in Amarin by 80.7% in the 3rd 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. Institutional investors own 22.25% of the company’s stock.

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.