Amarin (NASDAQ:AMRN) Stock Gets Downgrade from Wall Street Zen

Amarin (NASDAQ:AMRN) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday, Wall Street Zen reports.

AMRN has been the topic of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amarin in a research note on Thursday, October 15th. JPMorgan Chase & Co. began coverage on shares of Amarin in a research note on Friday, August 21st. They issued an “underweight” rating and a $13.00 price objective for the company. Finally, Zacks Research lowered Amarin from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 3rd. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell” and an average target price of $13.00.

Amarin Stock Up 1.1%

Shares of AMRN opened at $11.74 on Friday. The stock has a 50 day moving average price of $12.70 and a 200 day moving average price of $14.23. The company has a market capitalization of $247.95 million, a price-to-earnings ratio of -12.23 and a beta of 0.81. Amarin has a 52-week low of $11.25 and a 52-week high of $17.31.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings results on Wednesday, October 28th. The biopharmaceutical company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.11. The company had revenue of $39.55 million for 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%. On average, equities analysts anticipate that Amarin will post -0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Amarin

Several hedge funds have recently made changes to their positions in the business. R Squared Ltd increased its stake in Amarin by 190.9% in the 3rd quarter. R Squared Ltd now owns 49,272 shares of the biopharmaceutical company’s stock valued at $641,000 after purchasing an additional 32,334 shares in the last quarter. Brooklands Fund Management Ltd boosted its position in Amarin by 23.1% during the third quarter. Brooklands Fund Management Ltd now owns 218,373 shares of the biopharmaceutical company’s stock worth $2,839,000 after purchasing an additional 41,048 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Amarin during the third quarter worth $146,000. LCM Capital Management Inc grew its holdings in Amarin by 17.1% in the third 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 last quarter. Finally, GAMMA Investing LLC grew its holdings in Amarin by 197.4% in the second quarter. GAMMA Investing LLC now owns 1,576 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 1,046 shares during the last quarter. Institutional investors and hedge funds own 22.25% of the company’s stock.

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.