Zacks Research Downgrades Amarin (NASDAQ:AMRN) to Hold

Amarin (NASDAQ:AMRN) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

A number of other research firms have also weighed in on AMRN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amarin in a research report on Friday, July 17th. Wall Street Zen lowered Amarin from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Amarin has a consensus rating of “Reduce”.

Amarin Trading Up 0.9%

Shares of NASDAQ AMRN opened at $14.13 on Monday. The stock has a market capitalization of $298.43 million, a PE ratio of -14.27 and a beta of 0.81. Amarin has a twelve month low of $12.96 and a twelve month high of $20.90. The stock has a fifty day simple moving average of $14.83 and a 200-day simple moving average of $14.75.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of Amarin by 197.4% during the second quarter. GAMMA Investing LLC now owns 1,576 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 1,046 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Amarin during the 3rd quarter worth $32,000. Brooklands Fund Management Ltd acquired a new stake in shares of Amarin during the 4th quarter valued at approximately $42,000. Headlands Technologies LLC purchased a new stake in Amarin during the second quarter worth $44,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Amarin by 1,816.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,750 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 5,450 shares in the last quarter. 22.25% of the stock is owned by hedge funds and other institutional investors.

About Amarin

Amarin Corporation plc is a biopharmaceutical company focused on the commercialization and development of therapeutics for cardiovascular health. Founded in 1993 and headquartered in Dublin, Ireland, the company is publicly traded on the NASDAQ under the ticker AMRN. Amarin’s primary mission is to improve cardiovascular outcomes through innovative lipid science and evidence-based therapies.

The company’s flagship product is Vascepa® (icosapent ethyl), a high-purity prescription omega-3 fatty acid approved for the treatment of severe hypertriglyceridemia and as an adjunct to statin therapy to reduce the risk of cardiovascular events.