Amarin (NASDAQ:AMRN) Earns Sell Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Amarin (NASDAQ:AMRN) in a report released on Monday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Amarin Trading Down 5.8 %

Shares of Amarin stock opened at $0.44 on Monday. Amarin has a twelve month low of $0.35 and a twelve month high of $1.11. The stock has a market cap of $180.78 million, a price-to-earnings ratio of -4.89 and a beta of 1.82. The company has a fifty day moving average price of $0.53 and a 200 day moving average price of $0.54.

Shares of Amarin are going to reverse split on the morning of Friday, April 11th. The 1-20 reverse split was announced on Wednesday, March 12th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, April 10th.

Amarin (NASDAQ:AMRN) last released its quarterly earnings results on Wednesday, March 12th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The company had revenue of $62.31 million during the quarter, compared to analysts’ expectations of $32.37 million. Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. Analysts forecast that Amarin will post -0.15 earnings per share for the current year.

Hedge Funds Weigh In On Amarin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMRN. Waterfront Wealth Inc. raised its position in shares of Amarin by 181.4% in the 4th quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock valued at $1,204,000 after purchasing an additional 1,599,956 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Amarin by 3.0% during the 4th quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company’s stock valued at $650,000 after acquiring an additional 39,452 shares during the last quarter. Quinn Opportunity Partners LLC grew its holdings in Amarin by 85.2% during the 4th quarter. Quinn Opportunity Partners LLC now owns 1,106,539 shares of the biopharmaceutical company’s stock worth $537,000 after acquiring an additional 508,989 shares in the last quarter. AXA S.A. bought a new stake in shares of Amarin in the 4th quarter worth about $480,000. Finally, LCM Capital Management Inc raised its stake in shares of Amarin by 3.1% in the 4th quarter. LCM Capital Management Inc now owns 838,259 shares of the biopharmaceutical company’s stock valued at $407,000 after purchasing an additional 25,100 shares in the last quarter. 22.25% of the stock is owned by hedge funds and other institutional investors.

About Amarin

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.