Amarin (NASDAQ:AMRN) Stock Rating Upgraded by Zacks Research

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

Several other equities research analysts also recently weighed in on AMRN. Wall Street Zen downgraded shares of Amarin from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Amarin in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. started coverage on Amarin in a research report on Friday, August 21st. They set an “underweight” rating and a $13.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $13.00.

Amarin Price Performance

Shares of NASDAQ:AMRN opened at $12.07 on Monday. The firm has a market capitalization of $254.92 million, a PE ratio of -12.19 and a beta of 0.76. The firm’s 50-day moving average is $13.80 and its two-hundred day moving average is $14.42. Amarin has a 1 year low of $11.83 and a 1 year high of $20.90.

Hedge Funds Weigh In On Amarin

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in Amarin by 197.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,576 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 1,046 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Amarin in the first quarter valued at approximately $278,000. Waterfront Wealth Inc. lifted its position in shares of Amarin by 42.7% during the 1st quarter. Waterfront Wealth Inc. now owns 203,338 shares of the biopharmaceutical company’s stock worth $2,940,000 after buying an additional 60,798 shares during the last quarter. Eversept Partners LP grew its position in shares of Amarin by 2.9% in the 4th quarter. Eversept Partners LP now owns 172,188 shares of the biopharmaceutical company’s stock valued at $2,403,000 after buying an additional 4,912 shares during the last quarter. Finally, Brooklands Fund Management Ltd acquired a new stake in Amarin during the 4th quarter worth $42,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

About Amarin

Amarin Corporation plc (NASDAQ:AMRN) is a biopharmaceutical company focused on developing and commercializing therapies for cardiovascular disease. The company’s primary product is icosapent ethyl, an omega-3 fatty acid formulation derived from eicosapentaenoic acid (EPA).

In the United States, icosapent ethyl is marketed as Vascepa and is approved as an adjunct to diet for certain patients with elevated triglyceride levels. It is also approved to reduce the risk of cardiovascular events, such as heart attack and stroke, in specified high-risk adult patients.