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

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

AMRN has been the subject of several other reports. Wall Street Zen upgraded shares of Amarin from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Amarin in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Sell” and an average price target of $12.00.

Amarin Price Performance

AMRN stock opened at $16.81 on Monday. Amarin has a 12 month low of $7.08 and a 12 month high of $20.90. The firm has a market cap of $347.63 million, a PE ratio of -4.58 and a beta of 0.62. The firm has a 50 day simple moving average of $16.87 and a 200 day simple moving average of $14.53.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC lifted its position in Amarin by 112.3% during the 1st quarter. Acadian Asset Management LLC now owns 3,791,515 shares of the biopharmaceutical company’s stock worth $1,685,000 after acquiring an additional 2,005,713 shares during the last quarter. LCM Capital Management Inc increased its position in Amarin by 2.4% during the first quarter. LCM Capital Management Inc now owns 858,259 shares of the biopharmaceutical company’s stock worth $385,000 after acquiring an additional 20,000 shares during the period. Stonepine Capital Management LLC increased its position in Amarin by 470.3% during the first quarter. Stonepine Capital Management LLC now owns 651,614 shares of the biopharmaceutical company’s stock worth $293,000 after acquiring an additional 537,357 shares during the period. Kornitzer Capital Management Inc. KS increased its position 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 acquiring an additional 3,400 shares during the period. Finally, Jones Financial Companies Lllp increased its position in Amarin by 449,522.1% during the first quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company’s stock worth $815,000 after acquiring an additional 1,811,574 shares during the period. Institutional investors and hedge funds 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.