Amarin (NASDAQ:AMRN) Lowered to Hold Rating by Zacks Research

Amarin (NASDAQ:AMRN) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

AMRN has been the subject of several other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Amarin in a research report on Monday, April 20th. Wall Street Zen cut shares of Amarin from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Sell” and a consensus price target of $12.00.

Amarin Price Performance

AMRN stock opened at $14.05 on Monday. The company has a 50 day moving average price of $14.74 and a 200 day moving average price of $14.95. Amarin has a fifty-two week low of $10.66 and a fifty-two week high of $20.90. The stock has a market capitalization of $294.63 million, a PE ratio of -21.62 and a beta of 0.81.

Amarin (NASDAQ:AMRN) last posted its quarterly earnings data on Wednesday, February 25th. The biopharmaceutical company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($1.27) by $1.28. Amarin had a negative net margin of 15.51% and a negative return on equity of 2.99%. The firm had revenue of $49.22 million during the quarter, compared to analysts’ expectations of $50.62 million. As a group, equities analysts expect that Amarin will post -7.04 earnings per share for the current fiscal year.

Institutional Trading of Amarin

Several institutional investors and hedge funds have recently made changes to their positions in AMRN. Jones Financial Companies Lllp raised its position in shares of 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 valued at $815,000 after acquiring an additional 1,811,574 shares during the last quarter. Millennium Management LLC raised its position in shares of Amarin by 192.6% during the 3rd quarter. Millennium Management LLC now owns 132,391 shares of the biopharmaceutical company’s stock valued at $2,169,000 after acquiring an additional 87,147 shares during the last quarter. Waterfront Wealth Inc. raised its position in shares of Amarin by 82.8% during the 4th quarter. Waterfront Wealth Inc. now owns 142,540 shares of the biopharmaceutical company’s stock valued at $1,990,000 after acquiring an additional 64,580 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Amarin during the 2nd quarter valued at $623,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Amarin during the 1st quarter valued at $278,000. Institutional investors own 22.25% of the company’s stock.

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.