StockNews.com downgraded shares of Amarin (NASDAQ:AMRN - Free Report) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.
Amarin Price Performance
Shares of Amarin stock traded up $0.02 during trading hours on Friday, hitting $0.43. 1,592,613 shares of the company's stock traded hands, compared to its average volume of 1,379,523. Amarin has a 12-month low of $0.35 and a 12-month high of $1.11. The stock has a market capitalization of $177.70 million, a price-to-earnings ratio of -4.81 and a beta of 1.82. 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 going to reverse split on the morning of 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 - Get Free Report) last announced 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). Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. The firm had revenue of $62.31 million during the quarter, compared to analysts' expectations of $32.37 million. On average, analysts forecast that Amarin will post -0.15 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in AMRN. BNP Paribas Financial Markets boosted its stake in Amarin by 8.8% in 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 during the period. Arkfeld Wealth Strategies L.L.C. boosted 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 valued at $30,000 after acquiring an additional 20,000 shares during the last quarter. LCM Capital Management Inc boosted its position 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 valued at $407,000 after acquiring an additional 25,100 shares during the last quarter. New York State Common Retirement Fund bought a new stake in shares of Amarin during the 4th quarter valued at about $68,000. Finally, Waterfront Wealth Inc. boosted 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 valued at $1,204,000 after acquiring an additional 1,599,956 shares during the last quarter. Institutional investors own 22.25% of the company's stock.
About Amarin
(
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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.
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