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

StockNews.com assumed coverage on shares of Amarin (NASDAQ:AMRN) in a report released on Sunday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Amarin Price Performance

Shares of AMRN stock opened at $0.46 on Friday. The company has a market capitalization of $190.76 million, a PE ratio of -5.16 and a beta of 1.82. The firm’s 50-day moving average is $0.54 and its two-hundred day moving average is $0.54. Amarin has a 12 month low of $0.35 and a 12 month high of $1.11.

Amarin shares are going to reverse split before the market opens on 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 released its quarterly earnings data on Wednesday, March 12th. The biopharmaceutical company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The business had revenue of $62.31 million during the quarter, compared to analyst estimates of $32.37 million. Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. Sell-side analysts forecast that Amarin will post -0.15 EPS for the current year.

Hedge Funds Weigh In On Amarin

A number of hedge funds have recently modified their holdings of AMRN. Arkfeld Wealth Strategies L.L.C. lifted its position in Amarin by 52.6% in the fourth 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 last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Amarin in the 4th quarter valued at approximately $36,000. Generation Capital Management LLC acquired a new position in shares of Amarin in the 4th quarter worth approximately $50,000. Stonepine Capital Management LLC purchased a new position in shares of Amarin during the 4th quarter worth approximately $55,000. Finally, New York State Common Retirement Fund purchased a new stake in Amarin in the fourth quarter valued at approximately $68,000. 22.25% of the stock is currently owned by hedge funds and other 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.