Amarin (NASDAQ:AMRN) Reaches New 12-Month Low – Should You Sell?

Amarin Co. plc (NASDAQ:AMRN)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $0.44 and last traded at $9.11, with a volume of 1319852 shares changing hands. The stock had previously closed at $0.46.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Amarin in a report on Tuesday, April 8th. They issued a “sell” rating on the stock.

Amarin Trading Up 3.0 %

The company’s fifty day simple moving average is $9.93 and its 200-day simple moving average is $10.53. The stock has a market cap of $3.82 billion, a P/E ratio of -103.33 and a beta of 1.38.

Amarin (NASDAQ:AMRN) last released its quarterly earnings data on Wednesday, March 12th. The biopharmaceutical company reported ($2.40) earnings per share for the quarter, missing the consensus estimate of ($1.20) by ($1.20). The company had revenue of $62.31 million during the quarter, compared to the consensus estimate of $32.37 million. Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. As a group, analysts expect that Amarin Co. plc will post -0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amarin

A number of large investors have recently bought and sold shares of AMRN. Waterfront Wealth Inc. increased its position in 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 acquiring an additional 1,599,956 shares in the last quarter. AXA S.A. bought a new stake in shares of Amarin during the fourth quarter valued at approximately $480,000. Raymond James Financial Inc. acquired a new stake in shares of Amarin in the fourth quarter valued at approximately $343,000. Quinn Opportunity Partners LLC raised its position in Amarin by 85.2% in the 4th quarter. Quinn Opportunity Partners LLC now owns 1,106,539 shares of the biopharmaceutical company’s stock worth $537,000 after purchasing an additional 508,989 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Amarin during the 4th quarter worth $171,000. 22.25% of the stock is currently owned by 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.