Amarin (NASDAQ:AMRN) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Amarin (NASDAQ:AMRN) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group lifted their price target on Amarin from $7.00 to $12.00 and gave the stock a “sell” rating in a research report on Wednesday, June 25th. Wall Street Zen upgraded Amarin from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $12.00.

Amarin Trading Down 0.5%

Shares of AMRN stock opened at $15.47 on Monday. Amarin has a 12-month low of $7.08 and a 12-month high of $17.49. The stock’s 50-day moving average price is $15.55 and its 200-day moving average price is $12.24. The stock has a market capitalization of $320.38 million, a price-to-earnings ratio of -4.22 and a beta of 0.84.

Amarin (NASDAQ:AMRN) last issued its 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. Amarin had a negative return on equity of 21.18% and a negative net margin of 47.22%.The firm had revenue of $72.74 million for the quarter, compared to analysts’ expectations of $45.45 million. As a group, research analysts predict that Amarin will post -0.15 EPS for the current fiscal year.

Institutional Trading of Amarin

A number of large investors have recently modified their holdings of the company. Acadian Asset Management LLC raised its stake in Amarin by 112.3% in the first quarter. Acadian Asset Management LLC now owns 3,791,515 shares of the biopharmaceutical company’s stock worth $1,685,000 after buying an additional 2,005,713 shares in the last quarter. Waterfront Wealth Inc. raised its stake in Amarin by 1.3% in the first quarter. Waterfront Wealth Inc. now owns 2,514,615 shares of the biopharmaceutical company’s stock worth $1,127,000 after buying an additional 32,849 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Amarin by 449,522.1% in the first quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company’s stock worth $815,000 after buying an additional 1,811,574 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Amarin by 3.0% in the fourth quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company’s stock worth $650,000 after buying an additional 39,452 shares in the last quarter. Finally, AXA S.A. bought a new position in Amarin in the fourth quarter worth approximately $480,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.