Amarin (NASDAQ:AMRN) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Amarin (NASDAQ:AMRN) in a report issued on Saturday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Amarin Trading Down 1.0 %

Shares of AMRN stock opened at $0.44 on Friday. Amarin has a 12-month low of $0.43 and a 12-month high of $1.37. The stock has a market capitalization of $182.17 million, a P/E ratio of -4.93 and a beta of 1.83. The firm’s 50 day moving average is $0.52 and its 200 day moving average is $0.61.

Amarin (NASDAQ:AMRN) last posted 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). The firm had revenue of $42.30 million for the quarter, compared to analysts’ expectations of $43.82 million. Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. During the same quarter last year, the company posted ($0.05) EPS. As a group, equities analysts predict that Amarin will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On Amarin

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its stake in shares of Amarin by 8.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock valued at $816,000 after acquiring an additional 104,939 shares during the period. Waterfront Wealth Inc. lifted its holdings in Amarin by 63.7% during 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. Kornitzer Capital Management Inc. KS boosted its position in shares of Amarin by 80.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 42,700 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Amarin by 63.9% in the third 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 in the last quarter. Finally, Algert Global LLC bought a new stake in shares of Amarin during the 2nd quarter valued at $34,000. 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.