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

StockNews.com initiated coverage on shares of Amarin (NASDAQ:AMRN) in a research report sent to investors on Friday. The firm issued a hold rating on the biopharmaceutical company’s stock.

Amarin Trading Down 1.2 %

AMRN opened at $0.46 on Friday. The company has a fifty day moving average price of $0.54 and a two-hundred day moving average price of $0.62. Amarin has a 1-year low of $0.43 and a 1-year high of $1.37. The company has a market cap of $188.91 million, a P/E ratio of -5.11 and a beta of 1.83.

Amarin (NASDAQ:AMRN) last issued its earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $42.30 million during the quarter, compared to the consensus estimate of $43.82 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. On average, research analysts forecast that Amarin will post -0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Waterfront Wealth Inc. lifted its position in Amarin by 63.7% in the 2nd quarter. Waterfront Wealth Inc. now owns 860,613 shares of the biopharmaceutical company’s stock valued at $592,000 after acquiring an additional 334,969 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Amarin in the second quarter worth approximately $34,000. China Universal Asset Management Co. Ltd. lifted 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 valued at $48,000 after purchasing an additional 29,992 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its position in shares of Amarin by 80.7% during 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 last quarter. Finally, BNP Paribas Financial Markets grew its holdings 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.

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.