Stratos Wealth Partners LTD. Lowers Position in Amarin Co. plc (NASDAQ:AMRN)

Stratos Wealth Partners LTD. lowered its holdings in Amarin Co. plc (NASDAQ:AMRN) by 17.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 60,854 shares of the biopharmaceutical company’s stock after selling 13,150 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Amarin were worth $53,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Morgan Stanley raised its holdings in shares of Amarin by 289.6% during the 4th quarter. Morgan Stanley now owns 22,027,895 shares of the biopharmaceutical company’s stock valued at $26,654,000 after buying an additional 16,373,362 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Amarin by 292.2% during the 4th quarter. Millennium Management LLC now owns 6,923,801 shares of the biopharmaceutical company’s stock valued at $8,378,000 after buying an additional 5,158,279 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Amarin by 33.5% during the 1st quarter. Two Sigma Investments LP now owns 5,560,983 shares of the biopharmaceutical company’s stock valued at $8,341,000 after buying an additional 1,395,665 shares in the last quarter. Sarissa Capital Management LP raised its holdings in shares of Amarin by 2.1% during the 1st quarter. Sarissa Capital Management LP now owns 4,910,000 shares of the biopharmaceutical company’s stock valued at $7,365,000 after buying an additional 103,000 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Amarin by 0.9% during the 1st quarter. Clearbridge Investments LLC now owns 4,789,575 shares of the biopharmaceutical company’s stock valued at $15,758,000 after buying an additional 42,012 shares in the last quarter. 22.25% of the stock is owned by hedge funds and other institutional investors.

Amarin Price Performance

AMRN opened at $0.92 on Thursday. The stock’s 50 day simple moving average is $1.02 and its 200 day simple moving average is $0.93. Amarin Co. plc has a 1 year low of $0.65 and a 1 year high of $1.49. The firm has a market cap of $376.63 million, a price-to-earnings ratio of -6.55 and a beta of 1.98.

Amarin (NASDAQ:AMRN) last posted its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.04. Amarin had a negative return on equity of 10.47% and a negative net margin of 19.26%. The business had revenue of $74.71 million for the quarter, compared to analyst estimates of $72.46 million. As a group, sell-side analysts anticipate that Amarin Co. plc will post -0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reissued an “overweight” rating on shares of Amarin in a report on Friday, January 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Amarin presently has an average rating of “Hold” and a consensus price target of $1.08.

Amarin 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.