Amarin (NASDAQ:AMRN) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Amarin (NASDAQ:AMRN) from a hold rating to a strong-buy rating in a research report report published on Tuesday,Zacks.com reports.

Several other equities analysts have also recently weighed in on AMRN. Wall Street Zen cut shares of Amarin from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amarin in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.00.

Amarin Price Performance

Shares of AMRN opened at $15.77 on Tuesday. The stock has a 50-day moving average of $14.60 and a 200-day moving average of $14.74. The company has a market cap of $330.70 million, a PE ratio of -24.26 and a beta of 0.82. Amarin has a one year low of $12.30 and a one year high of $20.90.

Institutional Investors Weigh In On Amarin

Hedge funds and other institutional investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise bought a new stake in shares of Amarin during the third quarter valued at about $32,000. Brooklands Fund Management Ltd bought a new stake in shares of Amarin during the fourth quarter valued at about $42,000. Headlands Technologies LLC bought a new stake in shares of Amarin during the second quarter valued at about $44,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Amarin by 1,816.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,750 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 5,450 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of Amarin by 56.8% during the 4th quarter. New York State Common Retirement Fund now owns 7,605 shares of the biopharmaceutical company’s stock valued at $106,000 after purchasing an additional 2,756 shares in the last quarter. 22.25% of the stock is currently owned by institutional investors.

Amarin Company Profile

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.