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

StockNews.com assumed coverage on shares of Amarin (NASDAQ:AMRN - Free Report) in a research report sent to investors on Monday morning. The brokerage issued a sell rating on the biopharmaceutical company's stock.

Amarin Price Performance

NASDAQ AMRN traded down $0.01 on Monday, hitting $0.42. 1,489,679 shares of the company were exchanged, compared to its average volume of 1,361,750. The company's 50 day moving average price is $0.52 and its 200-day moving average price is $0.53. Amarin has a twelve month low of $0.35 and a twelve month high of $1.11. The firm has a market capitalization of $173.55 million, a P/E ratio of -4.70 and a beta of 1.82.

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 - Get Free Report) last posted 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). The business had revenue of $62.31 million for the quarter, compared to analyst estimates of $32.37 million. Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. As a group, equities analysts expect that Amarin will post -0.15 EPS for the current year.

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Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AMRN. Waterfront Wealth Inc. raised 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. BNP Paribas Financial Markets increased its stake in shares of Amarin by 3.0% in the 4th quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company's stock valued at $650,000 after acquiring an additional 39,452 shares during the last quarter. Quinn Opportunity Partners LLC lifted its holdings in Amarin by 85.2% during the fourth quarter. Quinn Opportunity Partners LLC now owns 1,106,539 shares of the biopharmaceutical company's stock worth $537,000 after acquiring an additional 508,989 shares in the last quarter. AXA S.A. acquired a new position in Amarin in the fourth quarter valued at about $480,000. Finally, LCM Capital Management Inc increased its holdings in shares of Amarin by 3.1% in the fourth quarter. LCM Capital Management Inc now owns 838,259 shares of the biopharmaceutical company's stock worth $407,000 after acquiring an additional 25,100 shares in the last quarter. 22.25% of the stock is owned by institutional investors.

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.