Amarin (NASDAQ:AMRN) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Amarin (NASDAQ:AMRN) from a buy rating to a hold rating in a report published on Saturday morning.

A number of other equities research analysts have also recently commented on AMRN. Weiss Ratings restated a “sell (d-)” rating on shares of Amarin in a research note on Wednesday, January 21st. Zacks Research cut shares of Amarin from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Three research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Strong Sell” and a consensus target price of $12.00.

Amarin Trading Up 0.9%

AMRN opened at $13.93 on Friday. The company’s 50 day moving average is $14.81 and its 200 day moving average is $15.75. The company has a market cap of $289.65 million, a price-to-earnings ratio of -154.78 and a beta of 0.84. Amarin has a 12-month low of $7.08 and a 12-month high of $20.90.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings data on Wednesday, February 25th. The biopharmaceutical company reported $0.01 earnings per share (EPS) 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 the consensus estimate of $50.62 million. Amarin had a negative net margin of 18.16% and a negative return on equity of 5.44%. As a group, analysts predict that Amarin will post -0.15 EPS for the current fiscal year.

Institutional Trading of Amarin

Several hedge funds have recently modified their holdings of the company. George Kaiser Family Foundation purchased a new position in shares of Amarin in the second quarter valued at $620,000. Brooklands Fund Management Ltd purchased a new stake in Amarin during the fourth quarter valued at $42,000. Eversept Partners LP raised its stake in Amarin by 2.9% during the fourth quarter. Eversept Partners LP now owns 172,188 shares of the biopharmaceutical company’s stock valued at $2,403,000 after purchasing an additional 4,912 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Amarin by 13.1% during the third quarter. Ameriprise Financial Inc. now owns 17,376 shares of the biopharmaceutical company’s stock valued at $285,000 after purchasing an additional 2,008 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Amarin by 192.6% in the 3rd quarter. Millennium Management LLC now owns 132,391 shares of the biopharmaceutical company’s stock worth $2,169,000 after buying an additional 87,147 shares in the last quarter. 22.25% of the stock is owned by hedge funds and other institutional investors.

About Amarin

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.