Amarin (NASDAQ:AMRN – Get Free Report) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.
A number of other research firms have also weighed in on AMRN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amarin in a research report on Monday, April 20th. Wall Street Zen lowered Amarin from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell” and an average price target of $12.00.
Check Out Our Latest Analysis on Amarin
Amarin Stock Down 0.1%
Amarin (NASDAQ:AMRN – Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The biopharmaceutical company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.27) by $1.28. Amarin had a negative return on equity of 2.99% and a negative net margin of 15.51%.The business had revenue of $49.22 million for the quarter, compared to analyst estimates of $50.62 million. Analysts anticipate that Amarin will post -7.04 EPS for the current fiscal year.
Hedge Funds Weigh In On Amarin
Several large investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp boosted its stake in shares of Amarin by 449,522.1% during the first quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company’s stock worth $815,000 after buying an additional 1,811,574 shares during the period. Waterfront Wealth Inc. boosted its stake in shares of Amarin by 42.7% during the first quarter. Waterfront Wealth Inc. now owns 203,338 shares of the biopharmaceutical company’s stock worth $2,940,000 after buying an additional 60,798 shares during the period. Eversept Partners LP boosted its stake in shares of Amarin by 2.9% during the fourth quarter. Eversept Partners LP now owns 172,188 shares of the biopharmaceutical company’s stock worth $2,403,000 after buying an additional 4,912 shares during the period. Millennium Management LLC boosted its stake in shares of Amarin by 25.6% during the fourth quarter. Millennium Management LLC now owns 166,235 shares of the biopharmaceutical company’s stock worth $2,320,000 after buying an additional 33,844 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Amarin by 15.0% during the third quarter. BNP Paribas Financial Markets now owns 87,366 shares of the biopharmaceutical company’s stock worth $1,431,000 after buying an additional 11,425 shares during the period. Institutional investors and hedge funds own 22.25% of the company’s stock.
Amarin Company Profile
Amarin Corporation plc is a biopharmaceutical company focused on the commercialization and development of therapeutics for cardiovascular health. Founded in 1993 and headquartered in Dublin, Ireland, the company is publicly traded on the NASDAQ under the ticker AMRN. Amarin’s primary mission is to improve cardiovascular outcomes through innovative lipid science and evidence-based therapies.
The company’s flagship product is Vascepa® (icosapent ethyl), a high-purity prescription omega-3 fatty acid approved for the treatment of severe hypertriglyceridemia and as an adjunct to statin therapy to reduce the risk of cardiovascular events.
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