JPMorgan Chase & Co. Lowers Amarin (NASDAQ:AMRN) to Underweight

Amarin (NASDAQ:AMRNGet Rating) was downgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report issued on Friday, The Fly reports.

Several other equities research analysts have also commented on AMRN. Cantor Fitzgerald reissued an “overweight” rating on shares of Amarin in a report on Wednesday, March 2nd. SVB Leerink lowered shares of Amarin from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $10.00 to $3.00 in a report on Thursday. Zacks Investment Research raised shares of Amarin from a “hold” rating to a “strong-buy” rating and set a $4.00 price target for the company in a report on Wednesday, January 12th. StockNews.com started coverage on shares of Amarin in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Northland Securities cut shares of Amarin from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amarin presently has a consensus rating of “Hold” and an average price target of $5.00.

NASDAQ:AMRN opened at $1.35 on Friday. The firm has a market cap of $535.33 million, a price-to-earnings ratio of -26.99 and a beta of 2.08. The company has a 50 day moving average price of $3.09 and a 200-day moving average price of $3.49. Amarin has a 1-year low of $1.34 and a 1-year high of $5.97.

Amarin (NASDAQ:AMRNGet Rating) last posted its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The firm had revenue of $94.60 million for the quarter, compared to analysts’ expectations of $128.21 million. Amarin had a net margin of 1.33% and a return on equity of 3.31%. Amarin’s revenue for the quarter was down 33.5% compared to the same quarter last year. During the same period last year, the firm earned $0.03 earnings per share. As a group, equities research analysts forecast that Amarin will post -0.04 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. Sarissa Capital Management LP boosted its position in shares of Amarin by 126.5% during the 4th quarter. Sarissa Capital Management LP now owns 19,250,000 shares of the biopharmaceutical company’s stock valued at $64,873,000 after acquiring an additional 10,750,000 shares during the last quarter. BVF Inc. IL boosted its position in shares of Amarin by 564.8% during the 3rd quarter. BVF Inc. IL now owns 11,407,182 shares of the biopharmaceutical company’s stock valued at $58,177,000 after acquiring an additional 9,691,201 shares during the last quarter. Morgan Stanley boosted its position in shares of Amarin by 0.7% during the 3rd quarter. Morgan Stanley now owns 6,336,406 shares of the biopharmaceutical company’s stock valued at $32,315,000 after acquiring an additional 41,332 shares during the last quarter. Millennium Management LLC boosted its position in shares of Amarin by 151.6% during the 4th quarter. Millennium Management LLC now owns 3,369,512 shares of the biopharmaceutical company’s stock valued at $11,355,000 after acquiring an additional 2,030,046 shares during the last quarter. Finally, Resources Investment Advisors LLC. boosted its position in shares of Amarin by 3.9% during the 1st quarter. Resources Investment Advisors LLC. now owns 807,305 shares of the biopharmaceutical company’s stock valued at $2,656,000 after acquiring an additional 30,000 shares during the last quarter. 35.42% of the stock is currently owned by hedge funds and other institutional investors.

Amarin Company Profile (Get Rating)

Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, Germany, Canada, Lebanon, and the United Arab Emirates. Its lead product is 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.

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