Amarin (NASDAQ:AMRN) Cut to Sell at StockNews.com

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

Amarin Stock Up 0.3 %

AMRN opened at $0.42 on Friday. The stock has a market cap of $170.43 million, a P/E ratio of -4.61 and a beta of 1.82. Amarin has a 12 month low of $0.35 and a 12 month high of $1.11. The company has a fifty day simple moving average of $0.55 and a 200 day simple moving average of $0.55.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its position in shares of Amarin by 8.8% in the third quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock valued at $816,000 after purchasing an additional 104,939 shares during the period. Arkfeld Wealth Strategies L.L.C. increased its stake in shares of Amarin by 52.6% during the fourth 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 period. LCM Capital Management Inc lifted its holdings in 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 during the last quarter. New York State Common Retirement Fund bought a new stake in Amarin in the 4th quarter valued at $68,000. Finally, Waterfront Wealth Inc. grew its holdings in Amarin by 181.4% in the 4th quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock valued at $1,204,000 after buying an additional 1,599,956 shares in the last quarter. Institutional investors and hedge funds own 22.25% of the company’s stock.

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.