Amarin (NASDAQ:AMRN) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Amarin (NASDAQ:AMRN) in a research report released on Friday morning, Marketbeat reports. The brokerage issued an underweight rating and a $13.00 price objective on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued reports about the company. Zacks Research cut Amarin from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amarin in a report on Friday, July 17th. Finally, Wall Street Zen lowered Amarin from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Sell” and a consensus target price of $13.00.

Amarin Stock Performance

Shares of NASDAQ:AMRN opened at $14.09 on Friday. Amarin has a 52-week low of $12.96 and a 52-week high of $20.90. The firm has a market capitalization of $297.58 million, a P/E ratio of -14.23 and a beta of 0.81. The stock has a 50 day moving average price of $14.79 and a 200-day moving average price of $14.73.

Hedge Funds Weigh In On Amarin

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of Amarin by 197.4% in the 2nd 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 in the 3rd quarter worth approximately $32,000. Brooklands Fund Management Ltd bought a new position in Amarin during the 4th quarter valued at approximately $42,000. Headlands Technologies LLC bought a new position in Amarin during the 2nd quarter valued at approximately $44,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Amarin by 1,816.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,750 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 5,450 shares during the last quarter. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Amarin Company Profile

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.