Cutter & CO Brokerage Inc. Trims Stock Position in Amarin Co. plc (NASDAQ:AMRN)

Cutter & CO Brokerage Inc. decreased its position in Amarin Co. plc (NASDAQ:AMRN) by 17.2% during the fourth quarter, Holdings Channel reports. The firm owned 441,601 shares of the biopharmaceutical company’s stock after selling 91,850 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Amarin were worth $384,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Waterfront Wealth Inc. raised its position in Amarin by 18.0% in the fourth quarter. Waterfront Wealth Inc. now owns 386,735 shares of the biopharmaceutical company’s stock valued at $336,000 after purchasing an additional 58,942 shares during the period. SVB Wealth LLC raised its position in Amarin by 100.0% in the fourth quarter. SVB Wealth LLC now owns 60,000 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 30,000 shares during the period. China Universal Asset Management Co. Ltd. raised its position in Amarin by 351.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 44,599 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 34,725 shares during the period. Axxcess Wealth Management LLC raised its position in Amarin by 4.5% in the third quarter. Axxcess Wealth Management LLC now owns 1,274,283 shares of the biopharmaceutical company’s stock valued at $1,172,000 after purchasing an additional 54,955 shares during the period. Finally, Hayek Kallen Investment Management increased its position in shares of Amarin by 83.6% during the third quarter. Hayek Kallen Investment Management now owns 622,643 shares of the biopharmaceutical company’s stock worth $573,000 after acquiring an additional 283,564 shares during the period. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Amarin Stock Performance

Shares of Amarin stock traded down $0.01 during trading hours on Wednesday, reaching $0.87. 496,810 shares of the company were exchanged, compared to its average volume of 1,984,391. Amarin Co. plc has a 1 year low of $0.65 and a 1 year high of $1.49. The stock’s fifty day moving average is $0.99 and its 200 day moving average is $0.93. The firm has a market cap of $358.97 million, a PE ratio of -6.31 and a beta of 1.98.

Amarin (NASDAQ:AMRN) last posted its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The business had revenue of $74.71 million for the quarter, compared to analyst estimates of $72.46 million. Amarin had a negative return on equity of 10.47% and a negative net margin of 19.26%. Research analysts expect that Amarin Co. plc will post -0.14 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Amarin in a research report on Friday, January 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $1.08.

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.