Amarin (NASDAQ:AMRN) Stock Rating Lowered by StockNews.com

Amarin (NASDAQ:AMRN) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Amarin Stock Performance

NASDAQ:AMRN traded down $0.01 during mid-day trading on Friday, hitting $0.63. The company had a trading volume of 1,528,843 shares, compared to its average volume of 1,302,446. The firm has a market cap of $257.45 million, a P/E ratio of -6.97 and a beta of 1.82. Amarin has a fifty-two week low of $0.43 and a fifty-two week high of $1.37. The business’s fifty day moving average is $0.51 and its two-hundred day moving average is $0.59.

Amarin (NASDAQ:AMRN) last released its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. The firm had revenue of $42.30 million for the quarter, compared to the consensus estimate of $43.82 million. During the same period in the previous year, the business earned ($0.05) EPS. Equities analysts forecast that Amarin will post -0.15 earnings per share for the current year.

Institutional Trading of Amarin

A number of large investors have recently made changes to their positions in the company. Algert Global LLC bought a new position in Amarin during the second quarter worth about $34,000. Arkfeld Wealth Strategies L.L.C. raised its position 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. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Amarin by 63.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 29,992 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its position in shares of Amarin by 80.7% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 42,700 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Amarin by 8.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock worth $816,000 after purchasing an additional 104,939 shares in the last quarter. Institutional investors 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.