Amarin (NASDAQ:AMRN) Rating Lowered to “Hold” at Zacks Research

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

A number of other analysts have also issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Amarin in a research note on Friday, August 21st. They set an “underweight” rating and a $13.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amarin in a research note on Thursday, October 15th. Finally, Wall Street Zen raised shares of Amarin from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Sell” and an average price target of $13.00.

Amarin Stock Up 1.7%

AMRN opened at $12.25 on Tuesday. The business has a fifty day moving average of $12.85 and a 200 day moving average of $14.28. Amarin has a 52-week low of $11.25 and a 52-week high of $17.31. The stock has a market cap of $258.72 million, a P/E ratio of -12.76 and a beta of 0.81.

Amarin (NASDAQ:AMRN) last released its earnings results on Wednesday, October 28th. The biopharmaceutical company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.11. Amarin had a negative return on equity of 0.52% and a negative net margin of 10.87%. The business had revenue of $39.55 million for the quarter, compared to analyst estimates of $43.76 million. Equities analysts anticipate that Amarin will post -0.85 EPS for the current fiscal year.

Institutional Trading of Amarin

Large investors have recently modified their holdings of the company. Brooklands Fund Management Ltd grew its stake in Amarin by 23.1% in the third quarter. Brooklands Fund Management Ltd now owns 218,373 shares of the biopharmaceutical company’s stock worth $2,839,000 after purchasing an additional 41,048 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Amarin during the 3rd quarter worth $146,000. LCM Capital Management Inc raised its position in Amarin by 17.1% during the 3rd quarter. LCM Capital Management Inc now owns 60,162 shares of the biopharmaceutical company’s stock valued at $782,000 after purchasing an additional 8,800 shares in the last quarter. GAMMA Investing LLC raised its position in Amarin by 197.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,576 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 1,046 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Amarin during the 1st quarter valued at $278,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Amarin Company Profile

Amarin Corporation plc is a biopharmaceutical company focused on developing and commercializing therapies intended to reduce cardiovascular risk. Its principal product is VASCEPA (icosapent ethyl), a prescription omega-3 fatty-acid medicine derived from highly purified eicosapentaenoic acid.

VASCEPA was initially approved in the United States to help lower triglyceride levels in certain patients and later received expanded approval to reduce the risk of cardiovascular events in eligible adults with elevated cardiovascular risk.