Amarin (NASDAQ:AMRN) Upgraded to Hold at StockNews.com

Amarin (NASDAQ:AMRN) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Monday.

Amarin Stock Performance

NASDAQ AMRN opened at $0.55 on Monday. Amarin has a fifty-two week low of $0.43 and a fifty-two week high of $1.37. The stock’s fifty day moving average is $0.51 and its two-hundred day moving average is $0.60. The firm has a market capitalization of $226.61 million, a P/E ratio of -6.13 and a beta of 1.82.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The business had revenue of $42.30 million during the quarter, compared to analyst estimates of $43.82 million. Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. During the same period last year, the company earned ($0.05) EPS. As a group, sell-side analysts forecast that Amarin will post -0.14 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Algert Global LLC purchased a new stake in shares of Amarin in the second quarter valued at approximately $34,000. China Universal Asset Management Co. Ltd. raised its holdings 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 worth $48,000 after acquiring an additional 29,992 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Amarin by 8.8% in the third quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock worth $816,000 after acquiring an additional 104,939 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its holdings 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 worth $60,000 after acquiring an additional 42,700 shares during the last quarter. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

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.