Amarin (NASDAQ:AMRN) Upgraded by Zacks Research to Strong-Buy Rating

Amarin (NASDAQ:AMRN) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other brokerages have also recently issued reports on AMRN. Wall Street Zen cut shares of Amarin from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Amarin in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $12.00.

Amarin Price Performance

AMRN stock opened at $15.77 on Tuesday. The company has a fifty day moving average price of $14.60 and a two-hundred day moving average price of $14.74. Amarin has a one year low of $12.30 and a one year high of $20.90. The stock has a market cap of $330.70 million, a price-to-earnings ratio of -24.26 and a beta of 0.82.

Institutional Investors Weigh In On Amarin

A number of institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp boosted its position in shares of Amarin by 449,522.1% in the first quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company’s stock valued at $815,000 after acquiring an additional 1,811,574 shares during the period. Waterfront Wealth Inc. lifted its position in Amarin by 42.7% during the first quarter. Waterfront Wealth Inc. now owns 203,338 shares of the biopharmaceutical company’s stock worth $2,940,000 after purchasing an additional 60,798 shares during the period. Eversept Partners LP lifted its position in Amarin by 2.9% during the fourth quarter. Eversept Partners LP now owns 172,188 shares of the biopharmaceutical company’s stock worth $2,403,000 after purchasing an additional 4,912 shares during the period. Millennium Management LLC lifted its position in Amarin by 25.6% during the fourth quarter. Millennium Management LLC now owns 166,235 shares of the biopharmaceutical company’s stock worth $2,320,000 after purchasing an additional 33,844 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in Amarin by 15.0% during the third quarter. BNP Paribas Financial Markets now owns 87,366 shares of the biopharmaceutical company’s stock worth $1,431,000 after purchasing an additional 11,425 shares during the period. Institutional investors own 22.25% of the company’s stock.

About Amarin

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.