Amarin (NASDAQ:AMRN) Coverage Initiated at StockNews.com

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

Amarin Price Performance

Shares of Amarin stock opened at $0.46 on Friday. The stock has a fifty day moving average price of $0.53 and a 200-day moving average price of $0.62. The firm has a market cap of $188.91 million, a PE ratio of -5.11 and a beta of 1.83. Amarin has a 1 year low of $0.43 and a 1 year high of $1.37.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate 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 company had revenue of $42.30 million during the quarter, compared to the consensus estimate of $43.82 million. During the same period in the prior year, the firm posted ($0.05) EPS. As a group, equities analysts anticipate that Amarin will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Amarin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in shares of Amarin by 8.8% in the third quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock worth $816,000 after purchasing an additional 104,939 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in Amarin by 80.7% during 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. China Universal Asset Management Co. Ltd. lifted its position in shares of Amarin by 63.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 29,992 shares in the last quarter. Algert Global LLC bought a new position in shares of Amarin in the second quarter worth $34,000. Finally, Waterfront Wealth Inc. grew 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 valued at $592,000 after purchasing an additional 334,969 shares in the last quarter. 22.25% of the stock is currently 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.