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

Analysts at StockNews.com initiated 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 Performance

Shares of AMRN stock opened at $0.46 on Friday. The stock has a fifty day moving average price of $0.54 and a 200 day moving average price of $0.54. The stock has a market cap of $187.72 million, a PE ratio of -5.08 and a beta of 1.82. Amarin has a 1 year low of $0.35 and a 1 year high of $1.11.

Amarin’s stock is going 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 data on Wednesday, March 12th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The firm had revenue of $62.31 million for the quarter, compared to analyst estimates of $32.37 million. Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. As a group, equities research analysts predict that Amarin will post -0.15 earnings per share for the current year.

Hedge Funds Weigh In On Amarin

Hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund purchased a new position in Amarin during the fourth quarter worth $68,000. Waterfront Wealth Inc. increased its position in Amarin by 181.4% during the fourth quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock worth $1,204,000 after buying an additional 1,599,956 shares in the last quarter. BNP Paribas Financial Markets increased 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. Arkfeld Wealth Strategies L.L.C. increased its position in Amarin by 52.6% during the fourth 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 in the last quarter. Finally, LCM Capital Management Inc increased its position in Amarin by 3.1% during the fourth quarter. LCM Capital Management Inc now owns 838,259 shares of the biopharmaceutical company’s stock worth $407,000 after buying an additional 25,100 shares in 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.