Amarin (NASDAQ:AMRN) Shares Down 4.2%

Amarin Co. plc (NASDAQ:AMRNGet Rating) was down 4.2% on Friday . The company traded as low as $1.36 and last traded at $1.37. Approximately 23,653 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 4,042,261 shares. The stock had previously closed at $1.43.

A number of equities analysts have recently weighed in on AMRN shares. SVB Leerink lowered Amarin from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $10.00 to $3.00 in a research note on Thursday, May 5th. StockNews.com lowered Amarin from a “hold” rating to a “sell” rating in a research note on Friday. The Goldman Sachs Group dropped their price target on Amarin from $1.75 to $1.50 and set a “sell” rating for the company in a research note on Tuesday. Northland Securities downgraded Amarin from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 4th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Amarin in a research report on Wednesday, March 2nd. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amarin currently has an average rating of “Hold” and an average target price of $4.30.

The firm has a fifty day moving average price of $2.59 and a two-hundred day moving average price of $3.15. The stock has a market capitalization of $557.14 million, a PE ratio of -27.39 and a beta of 2.08.

Amarin (NASDAQ:AMRNGet Rating) last released its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Amarin had a negative return on equity of 1.31% and a negative net margin of 4.15%. The company had revenue of $94.60 million for the quarter, compared to analysts’ expectations of $128.21 million. During the same period in the prior year, the firm posted $0.03 EPS. The firm’s revenue for the quarter was down 33.5% on a year-over-year basis. As a group, equities research analysts forecast that Amarin Co. plc will post -0.24 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of AMRN. Sarissa Capital Management LP lifted its stake in shares of Amarin by 126.5% in the 4th quarter. Sarissa Capital Management LP now owns 19,250,000 shares of the biopharmaceutical company’s stock valued at $64,873,000 after purchasing an additional 10,750,000 shares during the period. BVF Inc. IL lifted its stake in shares of Amarin by 564.8% in the 3rd quarter. BVF Inc. IL now owns 11,407,182 shares of the biopharmaceutical company’s stock valued at $58,177,000 after purchasing an additional 9,691,201 shares during the period. Millennium Management LLC lifted its stake in shares of Amarin by 151.6% in the 4th quarter. Millennium Management LLC now owns 3,369,512 shares of the biopharmaceutical company’s stock valued at $11,355,000 after purchasing an additional 2,030,046 shares during the period. 13D Management LLC acquired a new position in shares of Amarin in the 1st quarter valued at $6,659,000. Finally, Fairmount Funds Management LLC lifted its stake in shares of Amarin by 65.4% in the 1st quarter. Fairmount Funds Management LLC now owns 4,133,237 shares of the biopharmaceutical company’s stock valued at $13,598,000 after purchasing an additional 1,635,000 shares during the period. Hedge funds and other institutional investors own 35.42% of the company’s stock.

About Amarin (NASDAQ:AMRN)

Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, Germany, Canada, Lebanon, and the United Arab Emirates. Its lead product is 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.

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