StockNews.com Begins Coverage on Amarin (NASDAQ:AMRN)

Investment analysts at StockNews.com initiated coverage on shares of Amarin (NASDAQ:AMRN) in a research report issued on Sunday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Amarin Stock Up 0.3 %

Shares of NASDAQ:AMRN opened at $0.53 on Friday. Amarin has a 12-month low of $0.43 and a 12-month high of $1.37. The company’s 50 day moving average price is $0.51 and its two-hundred day moving average price is $0.60. The firm has a market cap of $217.66 million, a PE ratio of -5.89 and a beta of 1.82.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $42.30 million for the quarter, compared to analyst estimates of $43.82 million. Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. During the same period in the prior year, the company earned ($0.05) EPS. On average, research analysts expect that Amarin will post -0.14 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Algert Global LLC bought a new position in Amarin in the second quarter valued at about $34,000. China Universal Asset Management Co. Ltd. boosted 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 in the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in shares of Amarin by 80.7% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 42,700 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Amarin by 8.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock valued at $816,000 after purchasing an additional 104,939 shares during the last quarter. 22.25% of the stock is owned by institutional investors.

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.