Amarin (NASDAQ:AMRN) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of Amarin (NASDAQ:AMRN) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

Amarin Stock Down 1.3 %

Shares of NASDAQ AMRN opened at $0.63 on Friday. Amarin has a twelve month low of $0.43 and a twelve month high of $1.37. The stock’s 50 day moving average price is $0.51 and its 200-day moving average price is $0.59. The company has a market capitalization of $257.45 million, a PE ratio of -6.97 and a beta of 1.82.

Amarin (NASDAQ:AMRN) last posted 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 firm had revenue of $42.30 million during the quarter, compared to analysts’ expectations of $43.82 million. During the same quarter in the previous year, the company posted ($0.05) EPS. As a group, research analysts expect that Amarin will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Amarin

Several institutional investors have recently bought and sold shares of the company. Arkfeld Wealth Strategies L.L.C. lifted its stake 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 purchasing an additional 20,000 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Amarin by 63.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 29,992 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its position in shares of Amarin by 80.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 42,700 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Amarin during the second quarter worth $34,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Amarin by 8.8% during the third quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock worth $816,000 after acquiring an additional 104,939 shares in the last quarter. 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.