Wall Street Zen Downgrades Amarin (NASDAQ:AMRN) to Hold

Amarin (NASDAQ:AMRN) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other equities analysts also recently issued reports on AMRN. Zacks Research downgraded shares of Amarin from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Amarin in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Sell rating, According to MarketBeat.com, Amarin currently has a consensus rating of “Strong Sell” and an average price target of $12.00.

Amarin Stock Down 2.3%

Shares of Amarin stock opened at $13.80 on Friday. Amarin has a 52 week low of $7.08 and a 52 week high of $20.90. The firm’s 50 day moving average is $14.80 and its two-hundred day moving average is $15.76. The firm has a market capitalization of $286.90 million, a P/E ratio of -153.33 and a beta of 0.86.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings data on Wednesday, February 25th. The biopharmaceutical company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($1.27) by $1.28. The business had revenue of $49.22 million during the quarter, compared to the consensus estimate of $50.62 million. Amarin had a negative net margin of 18.16% and a negative return on equity of 5.44%. As a group, research analysts expect that Amarin will post -0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amarin

Large investors have recently modified their holdings of the stock. Jones Financial Companies Lllp grew its position in Amarin by 449,522.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company’s stock valued at $815,000 after buying an additional 1,811,574 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Amarin by 192.6% in the 3rd quarter. Millennium Management LLC now owns 132,391 shares of the biopharmaceutical company’s stock worth $2,169,000 after acquiring an additional 87,147 shares during the period. Waterfront Wealth Inc. lifted its stake in shares of Amarin by 82.8% in the 4th quarter. Waterfront Wealth Inc. now owns 142,540 shares of the biopharmaceutical company’s stock worth $1,990,000 after acquiring an additional 64,580 shares during the period. Jump Financial LLC acquired a new position in shares of Amarin during the second quarter worth about $623,000. Finally, George Kaiser Family Foundation acquired a new position in shares of Amarin during the second quarter worth about $620,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Amarin Company Profile

Amarin Corporation plc is a biopharmaceutical company focused on the commercialization and development of therapeutics for cardiovascular health. Founded in 1993 and headquartered in Dublin, Ireland, the company is publicly traded on the NASDAQ under the ticker AMRN. Amarin’s primary mission is to improve cardiovascular outcomes through innovative lipid science and evidence-based therapies.

The company’s flagship product is Vascepa® (icosapent ethyl), a high-purity prescription omega-3 fatty acid approved for the treatment of severe hypertriglyceridemia and as an adjunct to statin therapy to reduce the risk of cardiovascular events.