Amarin (NASDAQ:AMRN) Coverage Initiated at StockNews.com

Analysts at StockNews.com began coverage on shares of Amarin (NASDAQ:AMRN) in a research note issued to investors on Sunday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Amarin Stock Up 0.9 %

AMRN opened at $0.53 on Friday. Amarin has a 12-month low of $0.43 and a 12-month high of $1.37. The business has a 50 day moving average of $0.51 and a 200-day moving average of $0.60. The stock has a market cap of $217.00 million, a price-to-earnings ratio of -5.87 and a beta of 1.83.

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 net margin of 16.33% and a negative return on equity of 7.22%. The business had revenue of $42.30 million for the quarter, compared to analyst estimates of $43.82 million. During the same period in the prior year, the business earned ($0.05) EPS. As a group, analysts expect that Amarin will post -0.14 earnings per share for the current year.

Institutional Trading of Amarin

Hedge funds have recently added to or reduced their stakes in the company. Algert Global LLC bought a new stake in Amarin in the 2nd quarter valued at about $34,000. China Universal Asset Management Co. Ltd. raised its position in shares of Amarin by 63.9% in the third 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 in the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in shares of Amarin by 80.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock valued at $60,000 after buying an additional 42,700 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Amarin by 8.8% during the third 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 in the last quarter. 22.25% of the stock is owned by institutional investors and hedge funds.

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.