Amarin (NASDAQ:AMRN) Cut to Sell at StockNews.com

Amarin (NASDAQ:AMRN) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Amarin Stock Performance

AMRN stock opened at $0.41 on Friday. Amarin has a 1 year low of $0.35 and a 1 year high of $1.11. The stock’s 50 day moving average price is $0.55 and its 200 day moving average price is $0.55. The firm has a market cap of $169.94 million, a P/E ratio of -4.60 and a beta of 1.82.

Amarin shares are scheduled to reverse split on Friday, April 11th. The 1-20 reverse split was announced on Wednesday, March 12th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, April 10th.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings results on Wednesday, March 12th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. The business had revenue of $62.31 million for the quarter, compared to analysts’ expectations of $32.37 million. On average, research analysts predict that Amarin will post -0.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Arkfeld Wealth Strategies L.L.C. raised its position in shares of Amarin by 52.6% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 58,000 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 20,000 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Amarin in the 4th quarter worth $36,000. Generation Capital Management LLC purchased a new position in shares of Amarin in the 4th quarter worth $50,000. Stonepine Capital Management LLC purchased a new position in shares of Amarin in the 4th quarter worth $55,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Amarin in the 4th quarter worth $68,000. Hedge funds and other 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.