Acadian Asset Management LLC Boosts Holdings in Amarin Corporation PLC $AMRN

Acadian Asset Management LLC increased its holdings in Amarin Corporation PLC (NASDAQ:AMRN) by 112.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,791,515 shares of the biopharmaceutical company’s stock after acquiring an additional 2,005,713 shares during the quarter. Acadian Asset Management LLC owned approximately 18.31% of Amarin worth $1,685,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Jane Street Group LLC acquired a new position in Amarin in the 4th quarter worth approximately $130,000. BNP Paribas Financial Markets raised its holdings in Amarin by 3.0% in the 4th quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company’s stock valued at $650,000 after buying an additional 39,452 shares during the period. Waterfront Wealth Inc. grew its position in shares of Amarin by 1.3% during 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. Kornitzer Capital Management Inc. KS lifted its stake in Amarin by 4.0% during the first quarter. Kornitzer Capital Management Inc. KS now owns 88,200 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in Amarin in the first quarter valued at approximately $25,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMRN has been the topic of several research reports. The Goldman Sachs Group upped their target price on Amarin from $7.00 to $12.00 and gave the company a “sell” rating in a report on Wednesday, June 25th. Zacks Research lowered Amarin from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 25th. Finally, 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $12.00.

Amarin Stock Performance

NASDAQ AMRN opened at $14.93 on Wednesday. The stock has a 50-day simple moving average of $15.41 and a 200 day simple moving average of $12.59. The stock has a market capitalization of $308.75 million, a PE ratio of -4.07 and a beta of 0.77. Amarin Corporation PLC has a twelve month low of $7.08 and a twelve month high of $17.49.

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 analysts’ consensus estimates of ($0.66) by $0.63. The business had revenue of $72.74 million during the quarter, compared to analysts’ expectations 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 research analysts forecast that Amarin Corporation PLC will post -0.15 EPS for the current fiscal year.

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.