Amarin (NASDAQ:AMRN) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Amarin (NASDAQ:AMRN) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

Amarin Stock Down 0.6 %

Shares of AMRN opened at $0.52 on Tuesday. The company’s fifty day moving average is $0.52 and its 200-day moving average is $0.57. Amarin has a 12 month low of $0.43 and a 12 month high of $1.36. The firm has a market cap of $213.55 million, a price-to-earnings ratio of -5.78 and a beta of 1.83.

Institutional Investors Weigh In On Amarin

A number of hedge funds have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. raised its stake in Amarin by 63.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 29,992 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its stake in shares of Amarin by 80.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 42,700 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Amarin by 8.8% during the third quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock worth $816,000 after acquiring an additional 104,939 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. lifted its stake in shares of Amarin by 52.6% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 58,000 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 20,000 shares during the period. Finally, LCM Capital Management Inc increased its stake in shares of Amarin by 3.1% in the 4th quarter. LCM Capital Management Inc now owns 838,259 shares of the biopharmaceutical company’s stock valued at $407,000 after acquiring an additional 25,100 shares during the last quarter. 22.25% of the stock is currently owned by institutional investors.

About Amarin

Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, European countries, Canada, Lebanon, and the United Arab Emirates. The company offers VASCEPA, a prescription-only omega-3 fatty acid product, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.