Amarin (NASDAQ:AMRN) Now Covered by Analysts at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Amarin (NASDAQ:AMRN) in a research note issued on Tuesday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Amarin Trading Up 1.3 %

Shares of AMRN opened at $0.41 on Tuesday. Amarin has a twelve month low of $0.35 and a twelve month high of $1.11. The firm has a market capitalization of $167.55 million, a P/E ratio of -4.53 and a beta of 1.38. The firm’s 50-day moving average is $0.51 and its two-hundred day moving average is $0.53.

Amarin shares are scheduled to reverse split before the market opens 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 closing bell on Thursday, April 10th.

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

Institutional Investors Weigh In On Amarin

A number of large investors have recently added to or reduced their stakes in AMRN. BNP Paribas Financial Markets raised its position in 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. grew its position in shares of Amarin by 52.6% in the fourth 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 last quarter. LCM Capital Management Inc increased its stake in shares of Amarin by 3.1% during the 4th quarter. LCM Capital Management Inc now owns 838,259 shares of the biopharmaceutical company’s stock worth $407,000 after purchasing an additional 25,100 shares in the last quarter. New York State Common Retirement Fund acquired a new position in shares of Amarin during the 4th quarter worth approximately $68,000. Finally, Waterfront Wealth Inc. raised its position in shares of Amarin by 181.4% during the 4th quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock worth $1,204,000 after purchasing an additional 1,599,956 shares during the last quarter. 22.25% of the stock is owned by institutional investors and hedge funds.

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.