Amarin (NASDAQ:AMRN) Raised to “Hold” at StockNews.com

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

Amarin Price Performance

Shares of NASDAQ:AMRN traded down $0.00 during midday trading on Tuesday, reaching $0.52. The company had a trading volume of 848,007 shares, compared to its average volume of 1,165,074. The stock’s fifty day moving average price is $0.52 and its 200-day moving average price is $0.57. The stock has a market capitalization of $213.55 million, a P/E ratio of -5.78 and a beta of 1.83. Amarin has a one year low of $0.43 and a one year high of $1.36.

Institutional Trading of Amarin

A number of hedge funds and other institutional investors have recently made changes to their positions in AMRN. Waterfront Wealth Inc. increased its stake in shares of Amarin by 181.4% in the fourth quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock worth $1,204,000 after buying an additional 1,599,956 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Amarin in the fourth quarter worth $343,000. Sei Investments Co. bought a new stake in shares of Amarin in the fourth quarter worth $116,000. New York State Common Retirement Fund bought a new stake in shares of Amarin in the fourth quarter worth $68,000. Finally, BNP Paribas Financial Markets boosted its holdings in Amarin by 8.8% in the third quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock worth $816,000 after purchasing an additional 104,939 shares during the period. 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.