StockNews.com Begins Coverage on Amarin (NASDAQ:AMRN)

Equities researchers at StockNews.com began coverage on shares of Amarin (NASDAQ:AMRN) in a research note issued to investors on Saturday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Amarin Price Performance

Shares of AMRN opened at $0.45 on Friday. Amarin has a one year low of $0.43 and a one year high of $1.37. The company has a market cap of $183.98 million, a PE ratio of -4.98 and a beta of 1.83. The stock has a 50-day moving average of $0.52 and a 200-day moving average of $0.61.

Amarin (NASDAQ:AMRN) last announced 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 return on equity of 7.22% and a negative net margin of 16.33%. The firm had revenue of $42.30 million during the quarter, compared to the consensus estimate of $43.82 million. During the same quarter in the previous year, the company posted ($0.05) EPS. Analysts expect that Amarin will post -0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Waterfront Wealth Inc. raised its holdings in shares of Amarin by 63.7% in the second quarter. Waterfront Wealth Inc. now owns 860,613 shares of the biopharmaceutical company’s stock valued at $592,000 after purchasing an additional 334,969 shares during the last quarter. Algert Global LLC bought a new stake in Amarin in the 2nd quarter worth about $34,000. China Universal Asset Management Co. Ltd. increased its stake in Amarin by 63.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company’s stock valued at $48,000 after buying an additional 29,992 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its position in shares of Amarin by 80.7% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 42,700 shares in the last quarter. Finally, 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. Hedge funds and other institutional investors own 22.25% of the company’s stock.

About Amarin

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.