Amarin Stock to Reverse Split on Friday, April 11th (NASDAQ:AMRN)

Amarin Co. plc (NASDAQ:AMRN) shares are set to reverse split on Friday, April 11th. The 1-20 reverse split was announced on Wednesday, March 12th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, April 10th.

Amarin Price Performance

AMRN opened at $0.46 on Wednesday. The firm has a market capitalization of $188.50 million, a P/E ratio of -5.10 and a beta of 1.82. Amarin has a one year low of $0.35 and a one year high of $1.11. The company has a fifty day moving average price of $0.54 and a 200-day moving average price of $0.54.

Amarin (NASDAQ:AMRN) last posted its earnings results on Wednesday, March 12th. The biopharmaceutical company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The business had revenue of $62.31 million for the quarter, compared to analysts’ expectations of $32.37 million. Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. On average, analysts expect that Amarin will post -0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Amarin in a research note on Sunday. They issued a “sell” rating on the stock.

Institutional Trading of Amarin

Hedge funds have recently made changes to their positions in the stock. Waterfront Wealth Inc. increased its stake in Amarin by 181.4% in the fourth quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock valued at $1,204,000 after acquiring an additional 1,599,956 shares during the last quarter. AXA S.A. purchased a new position in shares of Amarin during the 4th quarter valued at about $480,000. Raymond James Financial Inc. bought a new stake in Amarin in the 4th quarter worth approximately $343,000. Quinn Opportunity Partners LLC boosted its stake in Amarin by 85.2% in the fourth quarter. Quinn Opportunity Partners LLC now owns 1,106,539 shares of the biopharmaceutical company’s stock worth $537,000 after buying an additional 508,989 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new position in Amarin during the fourth quarter valued at approximately $171,000. 22.25% of the stock is owned by institutional investors.

Amarin Company Profile

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.