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

Amarin (NASDAQ:AMRN) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amarin in a research note on Wednesday, January 21st. Wall Street Zen downgraded shares of Amarin from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Sell” and an average price target of $12.00.

Amarin Price Performance

Shares of NASDAQ AMRN opened at $14.18 on Wednesday. The business has a 50-day moving average of $14.85 and a 200-day moving average of $15.72. The stock has a market capitalization of $294.84 million, a price-to-earnings ratio of -157.56 and a beta of 0.86. 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 results on Wednesday, February 25th. The biopharmaceutical company reported $0.01 EPS for the quarter, beating the consensus estimate 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 return on equity of 5.46% and a negative net margin of 18.16%. On average, sell-side analysts expect that Amarin will post -0.15 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. XTX Topco Ltd acquired a new stake in Amarin during the 4th quarter valued at $239,000. Millennium Management LLC raised its position in shares of Amarin by 25.6% in the fourth quarter. Millennium Management LLC now owns 166,235 shares of the biopharmaceutical company’s stock valued at $2,320,000 after purchasing an additional 33,844 shares during the period. Eversept Partners LP lifted its stake in shares of Amarin by 2.9% during the 4th quarter. Eversept Partners LP now owns 172,188 shares of the biopharmaceutical company’s stock worth $2,403,000 after buying an additional 4,912 shares during the last quarter. Jump Financial LLC boosted its holdings in shares of Amarin by 38.7% during the 4th quarter. Jump Financial LLC now owns 26,900 shares of the biopharmaceutical company’s stock worth $375,000 after buying an additional 7,500 shares during the period. Finally, Brooklands Fund Management Ltd acquired a new position in Amarin in the 4th quarter valued at about $42,000. 22.25% of the stock is 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.