Amarin (NASDAQ:AMRN) Now Covered by StockNews.com

Equities researchers at StockNews.com began coverage on shares of Amarin (NASDAQ:AMRN) in a report issued on Saturday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Amarin Stock Down 0.2 %

Shares of NASDAQ:AMRN opened at $0.45 on Friday. Amarin has a 52-week low of $0.43 and a 52-week high of $1.37. The business’s 50 day moving average is $0.52 and its 200 day moving average is $0.61. The stock has a market cap of $183.98 million, a P/E ratio of -4.98 and a beta of 1.83.

Amarin (NASDAQ:AMRN) last posted its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. The firm had revenue of $42.30 million for the quarter, compared to the consensus estimate of $43.82 million. During the same quarter last year, the firm earned ($0.05) EPS. On average, sell-side analysts anticipate that Amarin will post -0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Waterfront Wealth Inc. raised its position in Amarin by 63.7% during the second quarter. Waterfront Wealth Inc. now owns 860,613 shares of the biopharmaceutical company’s stock worth $592,000 after acquiring an additional 334,969 shares during the period. BNP Paribas Financial Markets lifted its position in Amarin by 8.8% during the third quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock worth $816,000 after buying an additional 104,939 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Amarin in the second quarter valued at about $34,000. Kornitzer Capital Management Inc. KS increased its holdings in shares of Amarin by 80.7% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 42,700 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Amarin by 63.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 29,992 shares during the last quarter. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Amarin Company Profile

Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, European countries, Canada, Lebanon, and the United Arab Emirates. The company offers VASCEPA, a prescription-only omega-3 fatty acid product, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.