Amarin (NASDAQ:AMRN) Stock Rating Cut to “Hold” at Zacks Research

Amarin (NASDAQ:AMRN) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks reports.

AMRN has been the topic of several other reports. JPMorgan Chase & Co. assumed coverage on shares of Amarin in a report on Friday, August 21st. They set an “underweight” rating and a $13.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amarin in a report on Thursday, October 15th. Finally, Wall Street Zen raised shares of Amarin from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Sell” and a consensus target price of $13.00.

Amarin Price Performance

NASDAQ AMRN opened at $12.25 on Tuesday. The firm has a market cap of $258.72 million, a P/E ratio of -12.76 and a beta of 0.81. The stock’s 50-day moving average is $12.85 and its 200-day moving average is $14.28. Amarin has a one year low of $11.25 and a one year high of $17.31.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings data on Wednesday, October 28th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.11. Amarin had a negative return on equity of 0.52% and a negative net margin of 10.87%. The business had revenue of $39.55 million during the quarter, compared to analyst estimates of $43.76 million. Equities analysts anticipate that Amarin will post -0.85 EPS for the current year.

Hedge Funds Weigh In On Amarin

A number of large investors have recently bought and sold shares of AMRN. Brooklands Fund Management Ltd grew its stake in shares of Amarin by 23.1% during the 3rd quarter. Brooklands Fund Management Ltd now owns 218,373 shares of the biopharmaceutical company’s stock worth $2,839,000 after acquiring an additional 41,048 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Amarin in the third quarter valued at approximately $146,000. LCM Capital Management Inc lifted its position in shares of Amarin by 17.1% in the third quarter. LCM Capital Management Inc now owns 60,162 shares of the biopharmaceutical company’s stock worth $782,000 after purchasing an additional 8,800 shares in the last quarter. GAMMA Investing LLC grew its position in Amarin by 197.4% in the second quarter. GAMMA Investing LLC now owns 1,576 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 1,046 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Amarin in the first quarter valued at $278,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

About Amarin

Amarin Corporation plc is a biopharmaceutical company focused on developing and commercializing therapies intended to reduce cardiovascular risk. Its principal product is VASCEPA (icosapent ethyl), a prescription omega-3 fatty-acid medicine derived from highly purified eicosapentaenoic acid.

VASCEPA was initially approved in the United States to help lower triglyceride levels in certain patients and later received expanded approval to reduce the risk of cardiovascular events in eligible adults with elevated cardiovascular risk.