Amarin (NASDAQ:AMRN) Stock Rating Upgraded by Zacks Research

Amarin (NASDAQ:AMRN) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen downgraded Amarin from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Amarin in a report on Wednesday, January 21st. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Sell” and an average target price of $12.00.

Amarin Stock Down 1.6%

Shares of Amarin stock traded down $0.22 during trading hours on Wednesday, hitting $13.96. The company’s stock had a trading volume of 4,325 shares, compared to its average volume of 90,292. The business has a fifty day moving average of $14.85 and a 200 day moving average of $15.72. Amarin has a 1-year low of $7.08 and a 1-year high of $20.90. The company has a market capitalization of $290.27 million, a PE ratio of -155.11 and a beta of 0.86.

Amarin (NASDAQ:AMRN) last posted its earnings results on Wednesday, February 25th. The biopharmaceutical company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($1.27) by $1.28. Amarin had a negative net margin of 18.16% and a negative return on equity of 5.46%. The business had revenue of $49.22 million for the quarter, compared to analyst estimates of $50.62 million. On average, sell-side 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 hedge funds have recently bought and sold shares of AMRN. Jones Financial Companies Lllp increased its holdings in Amarin by 449,522.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company’s stock worth $815,000 after purchasing an additional 1,811,574 shares during the last quarter. GPS Wealth Strategies Group LLC acquired a new stake in shares of Amarin during the second quarter worth approximately $32,000. Jump Financial LLC bought a new stake in shares of Amarin in the second quarter worth $623,000. George Kaiser Family Foundation acquired a new stake in Amarin in the second quarter valued at $620,000. Finally, Headlands Technologies LLC acquired a new stake in Amarin in the second quarter valued at $44,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

About Amarin

Amarin Corporation plc is a biopharmaceutical company focused on the commercialization and development of therapeutics for cardiovascular health. Founded in 1993 and headquartered in Dublin, Ireland, the company is publicly traded on the NASDAQ under the ticker AMRN. Amarin’s primary mission is to improve cardiovascular outcomes through innovative lipid science and evidence-based therapies.

The company’s flagship product is Vascepa® (icosapent ethyl), a high-purity prescription omega-3 fatty acid approved for the treatment of severe hypertriglyceridemia and as an adjunct to statin therapy to reduce the risk of cardiovascular events.