StockNews.com Begins Coverage on Amarin (NASDAQ:AMRN)

StockNews.com started coverage on shares of Amarin (NASDAQ:AMRN) in a research report issued to clients and investors on Wednesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Amarin Stock Up 3.6 %

NASDAQ AMRN opened at $9.81 on Wednesday. The company has a market cap of $201.44 million, a PE ratio of -109.00 and a beta of 1.38. The firm’s 50-day simple moving average is $9.86 and its two-hundred day simple moving average is $10.49. Amarin has a 52 week low of $7.08 and a 52 week high of $20.60.

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

Hedge Funds Weigh In On Amarin

A number of institutional investors have recently added to or reduced their stakes in the business. Arkfeld Wealth Strategies L.L.C. increased its stake in Amarin by 52.6% in the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 58,000 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 20,000 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Amarin during the 4th quarter valued at about $36,000. Generation Capital Management LLC purchased a new position in shares of Amarin during the 4th quarter valued at about $50,000. Stonepine Capital Management LLC bought a new stake in Amarin in the 4th quarter worth approximately $55,000. Finally, New York State Common Retirement Fund purchased a new stake in Amarin in the fourth quarter worth approximately $68,000. 22.25% of the stock is currently owned by institutional investors.

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. 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.