Amarin (NASDAQ:AMRN) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Amarin (NASDAQ:AMRN) in a research note published on Saturday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Amarin Stock Performance

AMRN stock opened at $0.44 on Friday. The company has a market capitalization of $182.17 million, a PE ratio of -4.93 and a beta of 1.83. The company’s fifty day moving average price is $0.52 and its 200-day moving average price is $0.61. Amarin has a one year low of $0.43 and a one year high of $1.37.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings 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. grew its stake in shares of 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 buying an additional 29,992 shares in the last quarter. Waterfront Wealth Inc. increased its holdings in shares of Amarin by 63.7% in the 2nd quarter. Waterfront Wealth Inc. now owns 860,613 shares of the biopharmaceutical company’s stock worth $592,000 after buying an additional 334,969 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Amarin by 8.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock valued at $816,000 after buying an additional 104,939 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its position in shares of Amarin by 80.7% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock valued at $60,000 after buying an additional 42,700 shares in the last quarter. 22.25% of the stock is currently owned by institutional investors.

Amarin Company Profile

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.