Amarin (NASDAQ:AMRN) Now Covered by StockNews.com

Analysts at StockNews.com assumed coverage on shares of Amarin (NASDAQ:AMRN) in a report released on Sunday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Amarin Trading Up 0.3 %

Amarin stock opened at $0.53 on Friday. The stock has a 50-day moving average price of $0.51 and a two-hundred day moving average price of $0.60. Amarin has a 12 month low of $0.43 and a 12 month high of $1.37. The company has a market capitalization of $217.66 million, a PE ratio of -5.89 and a beta of 1.82.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Algert Global LLC bought a new position in shares of Amarin during the second quarter worth about $34,000. China Universal Asset Management Co. Ltd. increased its position in Amarin by 63.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 29,992 shares during the period. Kornitzer Capital Management Inc. KS increased its position 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 purchasing an additional 42,700 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in Amarin by 8.8% during the 3rd 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 during the last quarter. 22.25% of the stock is owned by institutional investors and hedge funds.

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.