Amarin Stock Scheduled to Reverse Split on Friday, April 11th (NASDAQ:AMRN)

Shares of Amarin Co. plc (NASDAQ:AMRN - Free Report) are set 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 market closes on Thursday, April 10th.

Amarin Stock Performance

Amarin stock traded down $0.03 during trading hours on Friday, reaching $0.44. 1,130,697 shares of the company's stock traded hands, compared to its average volume of 1,388,887. Amarin has a fifty-two week low of $0.35 and a fifty-two week high of $1.11. The firm's 50 day moving average is $0.53 and its 200-day moving average is $0.54. The firm has a market capitalization of $180.78 million, a price-to-earnings ratio of -4.89 and a beta of 1.82.

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). The business had revenue of $62.31 million during the quarter, compared to analyst estimates of $32.37 million. Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. Analysts predict that Amarin will post -0.15 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Amarin in a research report on Sunday, March 23rd. They issued a "sell" rating on the stock.

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Institutional Investors Weigh In On Amarin

Hedge funds have recently modified their holdings of the business. Arkfeld Wealth Strategies L.L.C. increased its stake in 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 worth $30,000 after purchasing an additional 20,000 shares in the last quarter. LCM Capital Management Inc boosted 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 valued at $407,000 after buying an additional 25,100 shares during the period. LPL Financial LLC raised its holdings in shares of Amarin by 26.0% during the fourth quarter. LPL Financial LLC now owns 153,020 shares of the biopharmaceutical company's stock worth $74,000 after acquiring an additional 31,555 shares during the period. BNP Paribas Financial Markets lifted its position in 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 in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Amarin during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 22.25% of the company's stock.

About Amarin

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.