Amarin (NASDAQ:AMRN - Get Free Report) was downgraded by StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Wednesday.
Amarin Trading Down 1.4 %
Shares of AMRN stock traded down $0.01 during mid-day trading on Wednesday, reaching $0.50. The stock had a trading volume of 1,228,648 shares, compared to its average volume of 1,532,093. Amarin has a 1-year low of $0.46 and a 1-year high of $1.37. The firm has a market cap of $205.38 million, a price-to-earnings ratio of -5.63 and a beta of 1.83. The business's fifty day moving average is $0.57 and its 200-day moving average is $0.65.
Amarin (NASDAQ:AMRN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $42.30 million during the quarter, compared to analyst estimates of $43.82 million. Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. During the same period in the prior year, the business posted ($0.05) EPS. On average, analysts forecast that Amarin will post -0.14 earnings per share for the current year.
Institutional Trading of Amarin
A number of hedge funds and other institutional investors have recently made changes to their positions in AMRN. Algert Global LLC purchased a new stake in shares of Amarin during the 2nd quarter worth approximately $34,000. Prospect Financial Services LLC acquired a new stake in shares of Amarin during the second quarter valued at about $41,000. China Universal Asset Management Co. Ltd. grew its stake in shares of 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 in the last quarter. Kornitzer Capital Management Inc. KS grew 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 worth $60,000 after purchasing an additional 42,700 shares in the last quarter. Finally, Waterfront Wealth Inc. boosted its stake in Amarin by 63.7% in the second quarter. Waterfront Wealth Inc. now owns 860,613 shares of the biopharmaceutical company's stock valued at $592,000 after acquiring an additional 334,969 shares during the period. Institutional investors and hedge funds own 22.25% of the company's stock.
About Amarin
(
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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