Amarin (NASDAQ:AMRN) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Amarin (NASDAQ:AMRN) in a report published on Tuesday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Amarin Stock Performance

Shares of Amarin stock opened at $0.50 on Tuesday. The stock has a market capitalization of $205.17 million, a PE ratio of -5.55 and a beta of 1.92. Amarin has a 52 week low of $0.46 and a 52 week high of $1.37. The stock has a 50 day moving average price of $0.58 and a two-hundred day moving average price of $0.67.

Amarin (NASDAQ:AMRN) last posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. The business had revenue of $42.30 million during the quarter, compared to analyst estimates of $43.82 million. During the same period in the previous year, the business posted ($0.05) EPS. Research analysts forecast that Amarin will post -0.13 EPS for the current year.

Institutional Investors Weigh In On Amarin

Several institutional investors have recently bought and sold shares of the stock. Waterfront Wealth Inc. grew its position in Amarin by 63.7% in the 2nd quarter. Waterfront Wealth Inc. now owns 860,613 shares of the biopharmaceutical company’s stock worth $592,000 after purchasing an additional 334,969 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Amarin by 8.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock worth $816,000 after buying an additional 104,939 shares during the last quarter. Prospect Financial Services LLC bought a new position in shares of Amarin in the second quarter valued at approximately $41,000. Algert Global LLC purchased a new stake in shares of Amarin during the second quarter valued at approximately $34,000. Finally, Kornitzer Capital Management Inc. KS lifted its holdings in Amarin by 80.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 42,700 shares during the period. Institutional investors own 22.25% of the company’s stock.

Amarin Company Profile

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.