Amarin (NASDAQ:AMRN) Lowered to Hold Rating by Zacks Research

Zacks Research cut shares of Amarin (NASDAQ:AMRN) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

AMRN has been the subject of several other research reports. Wall Street Zen cut Amarin from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amarin in a report on Monday, April 20th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell” and an average target price of $12.00.

Amarin Stock Down 0.1%

AMRN opened at $14.05 on Monday. The stock has a market cap of $294.63 million, a PE ratio of -21.62 and a beta of 0.81. Amarin has a 52 week low of $10.66 and a 52 week high of $20.90. The business’s fifty day simple moving average is $14.74 and its 200 day simple moving average is $14.95.

Amarin (NASDAQ:AMRN) last posted its quarterly earnings results on Wednesday, February 25th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.27) by $1.28. The business had revenue of $49.22 million during the quarter, compared to analyst estimates of $50.62 million. Amarin had a negative net margin of 15.51% and a negative return on equity of 2.99%. As a group, equities analysts anticipate that Amarin will post -7.04 earnings per share for the current year.

Institutional Trading of Amarin

A number of hedge funds have recently made changes to their positions in AMRN. Jones Financial Companies Lllp boosted its position in shares of 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 worth $815,000 after purchasing an additional 1,811,574 shares in the last quarter. Millennium Management LLC boosted its position 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 purchasing an additional 87,147 shares in the last quarter. Waterfront Wealth Inc. boosted its position 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 purchasing an additional 64,580 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Amarin in the 2nd quarter worth approximately $623,000. Finally, Renaissance Technologies LLC bought a new position in Amarin in the 1st quarter valued at approximately $278,000. 22.25% of the stock is owned by institutional investors.

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.