Wall Street Zen Upgrades Amarin (NASDAQ:AMRN) to Buy

Amarin (NASDAQ:AMRN) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday, Wall Street Zen reports.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. assumed coverage on shares of Amarin in a research report on Friday, August 21st. They set an “underweight” rating and a $13.00 price objective on the stock. Zacks Research raised Amarin from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Amarin in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Amarin presently has a consensus rating of “Hold” and a consensus price target of $13.00.

Amarin Price Performance

Shares of AMRN stock opened at $12.07 on Friday. The stock has a market capitalization of $254.92 million, a PE ratio of -12.57 and a beta of 0.81. The business’s 50 day simple moving average is $12.97 and its 200 day simple moving average is $14.32. Amarin has a one year low of $11.25 and a one year high of $17.31.

Amarin (NASDAQ:AMRN) last released its quarterly earnings data on Wednesday, October 28th. The biopharmaceutical company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.11. The business had revenue of $39.55 million during the quarter, compared to analyst estimates of $43.76 million. Amarin had a negative net margin of 10.87% and a negative return on equity of 0.52%. As a group, research analysts expect that Amarin will post -0.85 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AMRN. GAMMA Investing LLC raised its position in Amarin by 197.4% in the second quarter. GAMMA Investing LLC now owns 1,576 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 1,046 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in Amarin in the 3rd quarter worth about $146,000. Renaissance Technologies LLC bought a new stake in shares of Amarin in the 1st quarter valued at about $278,000. LCM Capital Management Inc lifted its stake in shares of Amarin by 17.1% in the 3rd quarter. LCM Capital Management Inc now owns 60,162 shares of the biopharmaceutical company’s stock valued at $782,000 after purchasing an additional 8,800 shares during the period. Finally, Waterfront Wealth Inc. raised its holdings 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 acquiring an additional 60,798 shares during the period. 22.25% of the stock is owned by institutional investors.

Amarin Company Profile

Amarin Corporation plc is a biopharmaceutical company focused on developing and commercializing therapies intended to reduce cardiovascular risk. Its principal product is VASCEPA (icosapent ethyl), a prescription omega-3 fatty-acid medicine derived from highly purified eicosapentaenoic acid.

VASCEPA was initially approved in the United States to help lower triglyceride levels in certain patients and later received expanded approval to reduce the risk of cardiovascular events in eligible adults with elevated cardiovascular risk.