Waterfront Wealth Inc. Grows Stake in Amarin Co. plc (NASDAQ:AMRN)

Waterfront Wealth Inc. increased its holdings in Amarin Co. plc (NASDAQ:AMRN) by 18.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 386,735 shares of the biopharmaceutical company’s stock after purchasing an additional 58,942 shares during the period. Waterfront Wealth Inc. owned 0.10% of Amarin worth $336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HighTower Advisors LLC lifted its holdings in shares of Amarin by 30.2% in the first quarter. HighTower Advisors LLC now owns 73,466 shares of the biopharmaceutical company’s stock worth $239,000 after buying an additional 17,042 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of Amarin by 0.9% during the first quarter. Clearbridge Investments LLC now owns 4,789,575 shares of the biopharmaceutical company’s stock valued at $15,758,000 after purchasing an additional 42,012 shares in the last quarter. UBS Group AG increased its holdings in shares of Amarin by 0.9% in the first quarter. UBS Group AG now owns 880,081 shares of the biopharmaceutical company’s stock worth $2,895,000 after purchasing an additional 7,994 shares during the last quarter. State Street Corp lifted its position in shares of Amarin by 7.7% in the first quarter. State Street Corp now owns 172,596 shares of the biopharmaceutical company’s stock worth $568,000 after buying an additional 12,298 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Amarin by 82.4% during the first quarter. Goldman Sachs Group Inc. now owns 774,484 shares of the biopharmaceutical company’s stock valued at $2,549,000 after buying an additional 349,764 shares during the last quarter. 22.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Amarin in a report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $1.08.

Amarin Stock Down 1.9 %

Shares of NASDAQ AMRN traded down $0.02 during mid-day trading on Thursday, hitting $0.90. 191,761 shares of the company’s stock traded hands, compared to its average volume of 2,038,334. Amarin Co. plc has a 1 year low of $0.65 and a 1 year high of $1.49. The company’s 50-day moving average is $1.02 and its two-hundred day moving average is $0.93.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.04. The company had revenue of $74.71 million for the quarter, compared to analysts’ expectations of $72.46 million. Amarin had a negative return on equity of 10.47% and a negative net margin of 19.26%. On average, equities research analysts anticipate that Amarin Co. plc will post -0.14 EPS for the current fiscal year.

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.