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

Investment analysts at StockNews.com started coverage on shares of Amarin (NASDAQ:AMRN) in a report issued on Tuesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Amarin Stock Performance

Shares of Amarin stock opened at $0.46 on Tuesday. The firm has a market cap of $188.21 million, a PE ratio of -5.09 and a beta of 1.38. The business’s 50 day simple moving average is $0.50 and its 200 day simple moving average is $0.53. Amarin has a 52-week low of $0.35 and a 52-week high of $1.05.

Amarin’s stock is going 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 market closes on Thursday, April 10th.

Amarin (NASDAQ:AMRN) last announced 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). 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. As a group, equities research analysts predict that Amarin will post -0.15 EPS for the current year.

Institutional Trading of Amarin

Institutional investors and hedge funds have recently bought and sold shares of the stock. Arkfeld Wealth Strategies L.L.C. increased its position in shares of Amarin by 52.6% during the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 58,000 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 20,000 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Amarin in the 4th quarter valued at approximately $36,000. Generation Capital Management LLC bought a new position in shares of Amarin in the fourth quarter valued at $50,000. Stonepine Capital Management LLC acquired a new position in Amarin during the fourth quarter worth $55,000. Finally, New York State Common Retirement Fund bought a new stake in Amarin during the fourth quarter worth $68,000. 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.