StockNews.com Initiates Coverage on Amarin (NASDAQ:AMRN)

StockNews.com started coverage on shares of Amarin (NASDAQ:AMRN) in a report published on Tuesday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

Amarin Trading Up 3.0 %

NASDAQ AMRN opened at $0.51 on Tuesday. The company’s 50-day moving average price is $0.57 and its 200-day moving average price is $0.67. The stock has a market cap of $208.09 million, a PE ratio of -5.47 and a beta of 1.92. Amarin has a 12 month low of $0.46 and a 12 month high of $1.37.

Amarin (NASDAQ:AMRN) last posted 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). The company had revenue of $42.30 million during the quarter, compared to the consensus estimate of $43.82 million. Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. During the same quarter in the previous year, the company posted ($0.05) earnings per share. As a group, sell-side analysts forecast that Amarin will post -0.13 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arkfeld Wealth Strategies L.L.C. bought a new position in Amarin during the 2nd quarter worth about $28,000. Algert Global LLC bought a new position in Amarin during the 2nd quarter worth about $34,000. Prospect Financial Services LLC bought a new stake in shares of Amarin in the 2nd quarter valued at about $41,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Amarin by 63.9% in 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 buying an additional 29,992 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its holdings in shares of Amarin by 80.7% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock valued at $60,000 after buying an additional 42,700 shares in the last quarter. 22.25% of the stock is currently owned by institutional investors.

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.