Research analysts at StockNews.com initiated coverage on shares of Amarin (NASDAQ:AMRN - Get Free Report) in a note issued to investors on Saturday. The firm set a "hold" rating on the biopharmaceutical company's stock.
Amarin Stock Down 0.2 %
NASDAQ:AMRN traded down $0.00 during mid-day trading on Friday, hitting $0.45. 2,159,141 shares of the stock traded hands, compared to its average volume of 1,556,877. The stock has a market capitalization of $183.98 million, a price-to-earnings ratio of -4.98 and a beta of 1.83. Amarin has a 52 week low of $0.43 and a 52 week high of $1.37. The firm's 50 day moving average is $0.52 and its two-hundred day moving average is $0.61.
Amarin (NASDAQ:AMRN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) earnings per share (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 business had revenue of $42.30 million for the quarter, compared to analysts' expectations of $43.82 million. During the same quarter in the previous year, the firm earned ($0.05) EPS. As a group, research analysts predict that Amarin will post -0.14 EPS for the current year.
Hedge Funds Weigh In On Amarin
A number of hedge funds and other institutional investors have recently modified their holdings of AMRN. Algert Global LLC bought a new position in Amarin in the second quarter worth about $34,000. China Universal Asset Management Co. Ltd. lifted its position in Amarin by 63.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company's stock valued at $48,000 after acquiring an additional 29,992 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in 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 acquiring an additional 42,700 shares in the last quarter. Waterfront Wealth Inc. grew its holdings in Amarin by 63.7% in the second quarter. Waterfront Wealth Inc. now owns 860,613 shares of the biopharmaceutical company's stock worth $592,000 after purchasing an additional 334,969 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Amarin by 8.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company's stock valued at $816,000 after purchasing an additional 104,939 shares during the last quarter. 22.25% of the stock is currently owned by institutional investors.
Amarin Company Profile
(
Get Free Report)
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.
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