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 report sent to investors on Monday morning.

Amarin Stock Down 6.7 %

AMRN stock traded down $0.04 during mid-day trading on Monday, hitting $0.51. 950,436 shares of the company were exchanged, compared to its average volume of 1,359,871. The firm has a market capitalization of $211.37 million, a P/E ratio of -5.72 and a beta of 1.82. The business has a fifty day simple moving average of $0.51 and a 200-day simple moving average of $0.59. Amarin has a 12-month low of $0.43 and a 12-month high of $1.37.

Amarin (NASDAQ:AMRN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $43.82 million. During the same quarter last year, the firm earned ($0.05) EPS. Research analysts predict that Amarin will post -0.14 EPS for the current year.

Institutional Trading of Amarin

Several hedge funds have recently added to or reduced their stakes in AMRN. BNP Paribas Financial Markets raised its position 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 during the last quarter. Kornitzer Capital Management Inc. KS grew its position in shares of Amarin by 80.7% in the third 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 in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Amarin by 63.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company's stock worth $48,000 after buying an additional 29,992 shares in the last quarter. Finally, Algert Global LLC bought a new position in shares of Amarin during the 2nd quarter valued at about $34,000. Institutional investors and hedge funds 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.