Amarin (NASDAQ:AMRN) Upgraded by StockNews.com to "Hold" Rating

StockNews.com upgraded shares of Amarin (NASDAQ:AMRN - Free Report) from a sell rating to a hold rating in a research note issued to investors on Thursday.

Amarin Stock Performance

AMRN traded down $0.01 during midday trading on Thursday, reaching $0.46. 1,826,620 shares of the company were exchanged, compared to its average volume of 1,540,517. Amarin has a one year low of $0.45 and a one year high of $1.37. The company's fifty day moving average price is $0.55 and its 200 day moving average price is $0.64. The company has a market cap of $188.99 million, a price-to-earnings ratio of -5.11 and a beta of 1.83.

Amarin (NASDAQ:AMRN - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. The company had revenue of $42.30 million during the quarter, compared to analysts' expectations of $43.82 million. During the same period in the previous year, the company posted ($0.05) earnings per share. As a group, sell-side analysts anticipate that Amarin will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amarin

A number of institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its position 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 during the last quarter. Longitude Cayman Ltd. boosted its stake in Amarin by 1.5% in the second quarter. Longitude Cayman Ltd. now owns 2,390,000 shares of the biopharmaceutical company's stock valued at $1,649,000 after acquiring an additional 35,000 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its position in shares of Amarin by 80.7% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company's stock valued at $60,000 after acquiring an additional 42,700 shares during the period. Algert Global LLC purchased a new stake in shares of Amarin during the 2nd quarter worth approximately $34,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of 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. 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.