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

Wall Street Zen lowered shares of Amarin (NASDAQ:AMRN) from a buy rating to a hold rating in a research note issued to investors on Sunday morning,Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the company. Zacks Research cut Amarin from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Amarin in a research note on Thursday, October 15th. Finally, JPMorgan Chase & Co. assumed coverage on Amarin in a research note on Friday, August 21st. They set an “underweight” rating and a $13.00 price target on the stock. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Sell” and a consensus target price of $13.00.

Amarin Stock Performance

Amarin stock opened at $11.75 on Friday. The company has a 50 day moving average price of $12.66 and a 200-day moving average price of $14.20. Amarin has a fifty-two week low of $11.25 and a fifty-two week high of $17.31. The company has a market capitalization of $248.16 million, a PE ratio of -12.24 and a beta of 0.81.

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

Hedge Funds Weigh In On Amarin

Hedge funds and other institutional investors have recently modified their holdings of the business. Brooklands Fund Management Ltd raised its position in shares of Amarin by 23.1% in the 3rd quarter. Brooklands Fund Management Ltd now owns 218,373 shares of the biopharmaceutical company’s stock valued at $2,839,000 after purchasing an additional 41,048 shares during the last quarter. LCM Capital Management Inc lifted its position in Amarin by 17.1% during the 3rd quarter. LCM Capital Management Inc now owns 60,162 shares of the biopharmaceutical company’s stock worth $782,000 after acquiring an additional 8,800 shares during the period. R Squared Ltd grew its stake in Amarin by 190.9% during the 3rd quarter. R Squared Ltd now owns 49,272 shares of the biopharmaceutical company’s stock valued at $641,000 after purchasing an additional 32,334 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Amarin during the 1st quarter valued at about $278,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Amarin during the 3rd quarter valued at about $146,000. 22.25% of the stock is currently owned by institutional investors.

Amarin Company Profile

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.