Amarin (NASDAQ:AMRN) Now Covered by Analysts at StockNews.com

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

Amarin Stock Down 1.5 %

Shares of NASDAQ AMRN opened at $0.49 on Tuesday. Amarin has a 52-week low of $0.46 and a 52-week high of $1.37. The firm has a fifty day moving average of $0.57 and a 200-day moving average of $0.67. The stock has a market capitalization of $202.05 million, a PE ratio of -5.53 and a beta of 1.92.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) earnings per share (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 analysts’ expectations of $43.82 million. During the same period in the prior year, the firm earned ($0.05) earnings per share. Equities research analysts expect that Amarin will post -0.13 EPS for the current fiscal year.

Institutional Trading of Amarin

Institutional investors have recently made changes to their positions in the stock. Arkfeld Wealth Strategies L.L.C. acquired a new position in shares of Amarin during the 2nd quarter valued at $28,000. Prospect Financial Services LLC acquired a new position in shares of Amarin during the 2nd quarter valued at $41,000. Longitude Cayman Ltd. lifted its holdings in shares of Amarin by 1.5% during the 2nd quarter. Longitude Cayman Ltd. now owns 2,390,000 shares of the biopharmaceutical company’s stock valued at $1,649,000 after acquiring an additional 35,000 shares in the last quarter. Waterfront Wealth Inc. lifted its holdings in shares of Amarin by 63.7% during the 2nd quarter. Waterfront Wealth Inc. now owns 860,613 shares of the biopharmaceutical company’s stock valued at $592,000 after acquiring an additional 334,969 shares in the last quarter. Finally, Algert Global LLC acquired a new position in shares of Amarin during the 2nd quarter valued at $34,000. 22.25% of the stock is owned by hedge funds and other 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.