StockNews.com Begins Coverage on Amarin (NASDAQ:AMRN)

Analysts at StockNews.com started coverage on shares of Amarin (NASDAQ:AMRN) in a research note issued on Wednesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Amarin Trading Down 2.7 %

NASDAQ AMRN opened at $9.11 on Wednesday. The stock has a market capitalization of $187.06 million, a price-to-earnings ratio of -101.22 and a beta of 1.38. The business’s 50 day moving average is $9.80 and its two-hundred day moving average is $10.46. Amarin has a 12-month low of $7.08 and a 12-month high of $20.60.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings data on Wednesday, March 12th. The biopharmaceutical company reported ($2.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.20) by ($1.20). Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. The business had revenue of $62.31 million for the quarter, compared to analyst estimates of $32.37 million. Equities analysts forecast that Amarin will post -0.15 earnings per share for the current fiscal year.

Institutional Trading of Amarin

A number of institutional investors have recently added to or reduced their stakes in AMRN. Arkfeld Wealth Strategies L.L.C. increased its holdings in 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 buying an additional 20,000 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Amarin in the 4th quarter valued at approximately $36,000. Generation Capital Management LLC purchased a new stake in Amarin during the fourth quarter worth $50,000. Stonepine Capital Management LLC acquired a new stake in Amarin in the fourth quarter valued at $55,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Amarin in the fourth quarter valued at $68,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.