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

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

AMRN has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amarin in a research note on Wednesday, January 21st. Zacks Research downgraded Amarin from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Three analysts have rated the stock with a Sell rating, According to data from MarketBeat, Amarin currently has a consensus rating of “Strong Sell” and a consensus price target of $12.00.

Amarin Stock Performance

Shares of NASDAQ AMRN opened at $13.80 on Friday. The firm has a market capitalization of $286.94 million, a PE ratio of -153.33 and a beta of 0.84. Amarin has a fifty-two week low of $7.08 and a fifty-two week high of $20.90. The stock’s 50-day simple moving average is $14.80 and its 200-day simple moving average is $15.75.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings results on Wednesday, February 25th. The biopharmaceutical company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.27) by $1.28. The firm had revenue of $49.22 million during the quarter, compared to analysts’ expectations of $50.62 million. Amarin had a negative net margin of 18.16% and a negative return on equity of 5.44%. On average, sell-side analysts forecast that Amarin will post -0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amarin

Several hedge funds have recently bought and sold shares of AMRN. Jones Financial Companies Lllp grew its holdings in shares of Amarin by 449,522.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company’s stock valued at $815,000 after buying an additional 1,811,574 shares during the period. Millennium Management LLC raised its position in shares of Amarin by 192.6% during the third quarter. Millennium Management LLC now owns 132,391 shares of the biopharmaceutical company’s stock worth $2,169,000 after purchasing an additional 87,147 shares during the period. Waterfront Wealth Inc. lifted its holdings in shares of Amarin by 82.8% during the 4th quarter. Waterfront Wealth Inc. now owns 142,540 shares of the biopharmaceutical company’s stock valued at $1,990,000 after purchasing an additional 64,580 shares in the last quarter. Jump Financial LLC bought a new position in shares of Amarin during the 2nd quarter valued at about $623,000. Finally, George Kaiser Family Foundation acquired a new position in shares of Amarin in the 2nd quarter valued at approximately $620,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Amarin Company Profile

Amarin Corporation plc is a biopharmaceutical company focused on the commercialization and development of therapeutics for cardiovascular health. Founded in 1993 and headquartered in Dublin, Ireland, the company is publicly traded on the NASDAQ under the ticker AMRN. Amarin’s primary mission is to improve cardiovascular outcomes through innovative lipid science and evidence-based therapies.

The company’s flagship product is Vascepa® (icosapent ethyl), a high-purity prescription omega-3 fatty acid approved for the treatment of severe hypertriglyceridemia and as an adjunct to statin therapy to reduce the risk of cardiovascular events.