Amarin (NASDAQ:AMRN) Coverage Initiated at StockNews.com

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

Amarin Trading Down 1.4 %

NASDAQ:AMRN opened at $0.44 on Monday. The stock has a 50-day moving average price of $0.53 and a two-hundred day moving average price of $0.54. Amarin has a 1 year low of $0.35 and a 1 year high of $1.11. The stock has a market cap of $181.52 million, a price-to-earnings ratio of -4.91 and a beta of 1.82.

Shares of Amarin are going to reverse split on the morning of Friday, April 11th. The 1-20 reverse split was announced on Wednesday, March 12th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, April 10th.

Amarin (NASDAQ:AMRN) last posted its quarterly earnings data on Wednesday, March 12th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The firm had revenue of $62.31 million for the quarter, compared to the consensus estimate of $32.37 million. Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. Sell-side analysts forecast that Amarin will post -0.15 earnings per share for the current year.

Institutional Trading of Amarin

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Arkfeld Wealth Strategies L.L.C. lifted its stake in Amarin by 52.6% in the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 58,000 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 20,000 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Amarin during the 4th quarter worth approximately $36,000. Generation Capital Management LLC acquired a new position in shares of Amarin in the fourth quarter valued at $50,000. Stonepine Capital Management LLC acquired a new stake in shares of Amarin during the 4th quarter worth about $55,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Amarin during the 4th quarter worth about $68,000. 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.