Amarin (NASDAQ:AMRN) Downgraded by StockNews.com to “Sell”

Amarin (NASDAQ:AMRN) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Amarin Trading Up 0.9 %

Shares of AMRN stock opened at $0.41 on Friday. The stock has a market cap of $169.94 million, a PE ratio of -4.60 and a beta of 1.82. The company’s fifty day moving average price is $0.55 and its 200-day moving average price is $0.55. Amarin has a 12 month low of $0.35 and a 12 month high of $1.11.

Amarin shares are scheduled to reverse split on the morning of Friday, April 11th. The 1-20 reverse split was announced on Wednesday, March 12th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, April 10th.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings results on Wednesday, March 12th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The firm had revenue of $62.31 million during the quarter, compared to the consensus estimate of $32.37 million. Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. On average, sell-side analysts forecast that Amarin will post -0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amarin

Hedge funds have recently bought and sold shares of the business. Waterfront Wealth Inc. increased its position in shares of Amarin by 181.4% during the 4th quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock valued at $1,204,000 after purchasing an additional 1,599,956 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Amarin by 3.0% during the 4th quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company’s stock valued at $650,000 after purchasing an additional 39,452 shares during the last quarter. Quinn Opportunity Partners LLC increased its position in shares of Amarin by 85.2% during the 4th quarter. Quinn Opportunity Partners LLC now owns 1,106,539 shares of the biopharmaceutical company’s stock valued at $537,000 after purchasing an additional 508,989 shares during the last quarter. AXA S.A. purchased a new stake in shares of Amarin during the 4th quarter valued at about $480,000. Finally, LCM Capital Management Inc increased its holdings in Amarin by 3.1% in the 4th quarter. LCM Capital Management Inc now owns 838,259 shares of the biopharmaceutical company’s stock worth $407,000 after acquiring an additional 25,100 shares in the last quarter. Hedge funds and other institutional investors own 22.25% of the company’s stock.

About Amarin

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.