Amarin (NASDAQ:AMRN) Lowered to Hold Rating by Zacks Research

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

Other equities research analysts also recently issued reports about the company. Wall Street Zen downgraded Amarin from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Amarin in a research report on Monday, April 20th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Sell” and an average price target of $12.00.

Amarin Stock Performance

Amarin stock opened at $14.05 on Monday. Amarin has a 52 week low of $10.66 and a 52 week high of $20.90. The firm has a market capitalization of $294.63 million, a PE ratio of -21.62 and a beta of 0.81. The business’s 50-day simple moving average is $14.74 and its 200-day simple moving average is $14.95.

Amarin (NASDAQ:AMRN) last released its earnings results on Wednesday, February 25th. The biopharmaceutical company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.27) by $1.28. Amarin had a negative return on equity of 2.99% and a negative net margin of 15.51%.The business had revenue of $49.22 million for the quarter, compared to the consensus estimate of $50.62 million. Research analysts forecast that Amarin will post -7.04 earnings per share for the current year.

Institutional Investors Weigh In On Amarin

A number of institutional investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise bought a new position in shares of Amarin in the third quarter valued at approximately $32,000. Brooklands Fund Management Ltd bought a new position in shares of Amarin in the fourth quarter valued at approximately $42,000. Headlands Technologies LLC bought a new position in shares of Amarin in the second quarter valued at approximately $44,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Amarin by 1,816.7% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,750 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 5,450 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Amarin by 56.8% in the fourth quarter. New York State Common Retirement Fund now owns 7,605 shares of the biopharmaceutical company’s stock valued at $106,000 after acquiring an additional 2,756 shares during the last quarter. 22.25% of the stock is owned by institutional investors and hedge funds.

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.