StockNews.com Begins Coverage on Amarin (NASDAQ:AMRN)

Analysts at StockNews.com started coverage on shares of Amarin (NASDAQ:AMRN) in a report issued on Friday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Amarin Stock Down 1.2 %

Shares of NASDAQ AMRN opened at $0.46 on Friday. Amarin has a twelve month low of $0.43 and a twelve month high of $1.37. The firm has a market capitalization of $188.91 million, a P/E ratio of -5.11 and a beta of 1.83. The stock’s 50-day simple moving average is $0.53 and its two-hundred day simple moving average is $0.62.

Amarin (NASDAQ:AMRN) last posted its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $42.30 million for the quarter, compared to analysts’ expectations of $43.82 million. Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. During the same quarter last year, the business posted ($0.05) EPS. As a group, research analysts anticipate that Amarin will post -0.14 EPS for the current fiscal year.

Institutional Trading of Amarin

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Algert Global LLC bought a new stake in Amarin in the second quarter worth $34,000. China Universal Asset Management Co. Ltd. increased its stake in Amarin by 63.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 29,992 shares during the period. Kornitzer Capital Management Inc. KS lifted its position in Amarin by 80.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 42,700 shares during the last quarter. Waterfront Wealth Inc. grew its holdings in shares of Amarin by 63.7% in the second quarter. Waterfront Wealth Inc. now owns 860,613 shares of the biopharmaceutical company’s stock worth $592,000 after purchasing an additional 334,969 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Amarin by 8.8% in the third quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock worth $816,000 after buying an additional 104,939 shares during the period. 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.