StockNews.com Upgrades Amarin (NASDAQ:AMRN) to “Hold”

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

Amarin Stock Down 0.8 %

AMRN stock opened at $0.53 on Friday. The company has a 50 day moving average of $0.56 and a two-hundred day moving average of $0.56. Amarin has a 12-month low of $0.43 and a 12-month high of $1.11. The company has a market cap of $217.66 million, a price-to-earnings ratio of -5.89 and a beta of 1.82.

Hedge Funds Weigh In On Amarin

A number of hedge funds have recently added to or reduced their stakes in AMRN. Stonepine Capital Management LLC acquired a new stake in Amarin in the fourth quarter valued at approximately $55,000. BNP Paribas Financial Markets raised its holdings in shares of Amarin by 3.0% during the 4th quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company’s stock valued at $650,000 after purchasing an additional 39,452 shares in the last quarter. AXA S.A. acquired a new stake in shares of Amarin in the 4th quarter valued at $480,000. Mercer Global Advisors Inc. ADV bought a new stake in Amarin in the fourth quarter worth $171,000. Finally, Jane Street Group LLC acquired a new position in Amarin during the fourth quarter worth $130,000. Institutional investors and hedge funds 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.