Amarin (NASDAQ:AMRN) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Amarin (NASDAQ:AMRNFree Report) from a hold rating to a buy rating in a report issued on Monday.

Amarin Stock Performance

AMRN opened at $0.73 on Monday. Amarin has a 1 year low of $0.63 and a 1 year high of $1.49. The company’s 50 day simple moving average is $0.85 and its 200 day simple moving average is $0.96. The stock has a market capitalization of $299.83 million, a PE ratio of -6.08 and a beta of 1.98.

Amarin (NASDAQ:AMRNGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. The company had revenue of $56.52 million during the quarter, compared to analysts’ expectations of $51.34 million. Amarin had a negative net margin of 18.96% and a negative return on equity of 9.48%. During the same period in the previous year, the company earned ($0.04) EPS. As a group, sell-side analysts expect that Amarin will post -0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Significant Wealth Partners LLC grew its position in shares of Amarin by 128.7% during the first quarter. Significant Wealth Partners LLC now owns 34,582 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 19,461 shares in the last quarter. LCM Capital Management Inc grew its holdings in Amarin by 9.2% during the 1st quarter. LCM Capital Management Inc now owns 808,159 shares of the biopharmaceutical company’s stock worth $720,000 after acquiring an additional 68,000 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of Amarin by 74.4% in the 1st quarter. GSA Capital Partners LLP now owns 1,482,540 shares of the biopharmaceutical company’s stock valued at $1,321,000 after purchasing an additional 632,497 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Amarin by 104.8% in the first quarter. BNP Paribas Financial Markets now owns 932,173 shares of the biopharmaceutical company’s stock worth $830,000 after purchasing an additional 476,996 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Amarin by 66.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 74,178 shares of the biopharmaceutical company’s stock valued at $66,000 after buying an additional 29,579 shares during the last quarter. Institutional investors and hedge funds own 22.25% of the company’s stock.

Amarin Company Profile

(Get Free Report)

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.

Further Reading

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