Amarin (NASDAQ:AMRN) Upgraded by StockNews.com to Hold Rating

Amarin (NASDAQ:AMRN) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

Amarin Stock Performance

Shares of AMRN traded down $0.00 during midday trading on Tuesday, hitting $0.52. 848,007 shares of the stock traded hands, compared to its average volume of 1,165,074. Amarin has a 1-year low of $0.43 and a 1-year high of $1.36. The firm has a market capitalization of $213.55 million, a PE ratio of -5.78 and a beta of 1.83. The business’s 50 day moving average price is $0.52 and its two-hundred day moving average price is $0.57.

Hedge Funds Weigh In On Amarin

Several hedge funds and other institutional investors have recently modified their holdings of the company. LPL Financial LLC boosted its holdings in shares of Amarin by 26.0% during the fourth quarter. LPL Financial LLC now owns 153,020 shares of the biopharmaceutical company’s stock valued at $74,000 after acquiring an additional 31,555 shares during the period. Sei Investments Co. bought a new stake in shares of Amarin during the fourth quarter valued at about $116,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Amarin during the fourth quarter valued at about $36,000. Raymond James Financial Inc. bought a new stake in shares of Amarin during the fourth quarter valued at about $343,000. Finally, Waterfront Wealth Inc. raised its stake in shares of Amarin by 181.4% during the fourth quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock valued at $1,204,000 after purchasing an additional 1,599,956 shares in the last quarter. Institutional investors and hedge funds 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.