Amarin (NASDAQ:AMRN) Stock Rating Lowered by StockNews.com

Amarin (NASDAQ:AMRN) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Amarin Price Performance

NASDAQ:AMRN traded down $0.01 during midday trading on Friday, reaching $0.63. The stock had a trading volume of 1,528,843 shares, compared to its average volume of 1,302,446. The stock has a market capitalization of $257.45 million, a P/E ratio of -6.97 and a beta of 1.82. Amarin has a 1-year low of $0.43 and a 1-year high of $1.37. The firm’s fifty day simple moving average is $0.51 and its 200-day simple moving average is $0.59.

Amarin (NASDAQ:AMRN) last posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. The business had revenue of $42.30 million for the quarter, compared to analyst estimates of $43.82 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. On average, equities research analysts anticipate that Amarin will post -0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amarin

A number of large investors have recently bought and sold shares of AMRN. Algert Global LLC acquired a new position in shares of Amarin during the second quarter worth approximately $34,000. China Universal Asset Management Co. Ltd. raised its position 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 last quarter. BNP Paribas Financial Markets lifted its holdings in Amarin by 8.8% during the 3rd 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 in the last quarter. Kornitzer Capital Management Inc. KS boosted its position in Amarin by 80.7% in 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 during the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. increased its stake in shares of Amarin by 52.6% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 58,000 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 20,000 shares during the period. 22.25% of the stock is currently owned by institutional investors.

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.