Amarin (NASDAQ:AMRN) Stock Rating Upgraded by Wall Street Zen

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

Other analysts also recently issued reports about the stock. Zacks Research downgraded shares of Amarin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Amarin in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Amarin has an average rating of “Sell” and an average price target of $12.00.

Amarin Stock Down 0.7%

Shares of NASDAQ:AMRN opened at $16.29 on Friday. The company has a market cap of $336.93 million, a PE ratio of -6.54 and a beta of 0.62. The company’s 50-day moving average price is $16.89 and its 200 day moving average price is $14.59. Amarin has a fifty-two week low of $7.08 and a fifty-two week high of $20.90.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings data on Wednesday, October 29th. The biopharmaceutical company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.33). The firm had revenue of $48.56 million during the quarter, compared to the consensus estimate of $42.04 million. Amarin had a negative net margin of 38.01% and a negative return on equity of 16.31%. As a group, equities analysts anticipate that Amarin will post -0.15 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new position in Amarin during the second quarter valued at approximately $44,000. George Kaiser Family Foundation purchased a new position in Amarin during the second quarter valued at approximately $620,000. Jump Financial LLC purchased a new position in Amarin during the second quarter valued at approximately $623,000. GPS Wealth Strategies Group LLC purchased a new position in Amarin during the second quarter valued at approximately $32,000. Finally, Acadian Asset Management LLC grew its position in Amarin by 112.3% during the first quarter. Acadian Asset Management LLC now owns 3,791,515 shares of the biopharmaceutical company’s stock valued at $1,685,000 after purchasing an additional 2,005,713 shares in the last quarter. 22.25% of the stock is owned by hedge funds and other institutional investors.

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.