Wall Street Zen Upgrades Amarin (NASDAQ:AMRN) to Buy

Amarin (NASDAQ:AMRN) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Separately, The Goldman Sachs Group lifted their target price on Amarin from $7.00 to $12.00 and gave the company a “sell” rating in a research note on Wednesday, June 25th.

Amarin Trading Up 4.4%

Shares of NASDAQ AMRN opened at $15.16 on Friday. The company has a market cap of $313.96 million, a price-to-earnings ratio of -4.13 and a beta of 0.84. Amarin has a 12-month low of $7.08 and a 12-month high of $17.49. The stock’s 50 day simple moving average is $14.46 and its 200 day simple moving average is $11.76.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings results on Wednesday, July 30th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.63. The business had revenue of $72.74 million for the quarter, compared to the consensus estimate of $45.45 million. Amarin had a negative return on equity of 21.18% and a negative net margin of 47.22%. As a group, equities analysts forecast that Amarin will post -0.15 earnings per share for the current fiscal year.

Institutional Trading of Amarin

Several hedge funds have recently added to or reduced their stakes in AMRN. Raymond James Financial Inc. bought a new stake in Amarin during the 4th quarter valued at $343,000. Sei Investments Co. bought a new stake in Amarin during the 4th quarter valued at $116,000. LPL Financial LLC raised its stake in Amarin by 26.0% during the 4th quarter. LPL Financial LLC now owns 153,020 shares of the biopharmaceutical company’s stock valued at $74,000 after acquiring an additional 31,555 shares in the last quarter. Quinn Opportunity Partners LLC raised its stake 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 valued at $537,000 after acquiring an additional 508,989 shares in the last quarter. Finally, Generation Capital Management LLC bought a new stake in Amarin during the 4th quarter valued at $50,000. Institutional investors own 22.25% 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. 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.