Amarin (NASDAQ:AMRN) Sees Unusually-High Trading Volume - Here's What Happened

Shares of Amarin Co. plc (NASDAQ:AMRN - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 72,740 shares changed hands during mid-day trading, an increase of 3% from the previous session's volume of 70,661 shares.The stock last traded at $8.62 and had previously closed at $9.30.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AMRN shares. StockNews.com started coverage on shares of Amarin in a report on Wednesday. They set a "sell" rating on the stock. The Goldman Sachs Group reduced their price target on Amarin from $20.00 to $7.00 and set a "sell" rating on the stock in a research report on Thursday.

Amarin Stock Down 2.7 %

The company has a market capitalization of $187.06 million, a PE ratio of -101.22 and a beta of 1.38. The stock's fifty day moving average price is $9.78 and its two-hundred day moving average price is $10.44.

Amarin (NASDAQ:AMRN - Get Free Report) last posted its quarterly earnings data on Wednesday, March 12th. The biopharmaceutical company reported ($2.40) EPS for the quarter, missing the consensus estimate of ($1.20) by ($1.20). 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 the consensus estimate of $32.37 million. On average, equities research analysts forecast that Amarin Co. plc will post -0.15 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Arkfeld Wealth Strategies L.L.C. lifted its position in Amarin by 52.6% in 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 in the last quarter. LCM Capital Management Inc lifted its holdings in shares of Amarin by 3.1% during the fourth quarter. LCM Capital Management Inc now owns 838,259 shares of the biopharmaceutical company's stock valued at $407,000 after purchasing an additional 25,100 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in shares of Amarin during the fourth quarter valued at $68,000. Waterfront Wealth Inc. increased 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 worth $1,204,000 after buying an additional 1,599,956 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Amarin in the 4th quarter worth about $343,000. 22.25% of the stock is owned by hedge funds and other 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.