Amarin (NASDAQ:AMRN) Receives Underweight Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their underweight rating on shares of Amarin (NASDAQ:AMRN) in a research note issued to investors on Monday, Benzinga reports.

AMRN has been the subject of several other research reports. StockNews.com started coverage on Amarin in a research note on Thursday, October 5th. They set a hold rating for the company. Jefferies Financial Group cut Amarin from a buy rating to a hold rating and decreased their price target for the company from $3.00 to $1.00 in a research note on Wednesday, October 25th.

Amarin Stock Down 3.5 %

AMRN opened at $0.79 on Monday. The stock has a market capitalization of $318.98 million, a price-to-earnings ratio of -6.08 and a beta of 2.11. Amarin has a twelve month low of $0.65 and a twelve month high of $2.23. The company has a 50-day simple moving average of $0.81 and a 200 day simple moving average of $1.05.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AMRN. Quantbot Technologies LP acquired a new position in shares of Amarin during the first quarter worth approximately $31,000. Resources Management Corp CT ADV increased its position in shares of Amarin by 759.9% during the first quarter. Resources Management Corp CT ADV now owns 10,319 shares of the biopharmaceutical company’s stock worth $855,000 after acquiring an additional 9,119 shares in the last quarter. Arete Wealth Advisors LLC acquired a new stake in shares of Amarin in the 1st quarter worth about $16,575,000,000. Creative Planning lifted its position in Amarin by 66.4% in the 2nd quarter. Creative Planning now owns 17,285 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 6,900 shares in the last quarter. Finally, 1834 Investment Advisors Co. bought a new position in Amarin in the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 25.51% 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. It 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.