Amarin (NASDAQ:AMRN) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Amarin (NASDAQ:AMRN) from a strong sell rating to a hold rating in a report released on Wednesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Amarin in a research report on Wednesday, January 21st. Wall Street Zen lowered shares of Amarin from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Sell” and a consensus target price of $12.00.

Amarin Stock Performance

Shares of Amarin stock opened at $14.18 on Wednesday. Amarin has a 1 year low of $7.08 and a 1 year high of $20.90. The firm’s 50-day simple moving average is $14.85 and its 200-day simple moving average is $15.72. The firm has a market cap of $294.84 million, a PE ratio of -157.56 and a beta of 0.86.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings data on Wednesday, February 25th. The biopharmaceutical company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($1.27) by $1.28. Amarin had a negative return on equity of 5.46% and a negative net margin of 18.16%.The firm had revenue of $49.22 million during the quarter, compared to analyst estimates of $50.62 million. On average, equities analysts predict that Amarin will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On Amarin

Large investors have recently added to or reduced their stakes in the stock. GPS Wealth Strategies Group LLC bought a new stake in Amarin in the second quarter valued at $32,000. Banque Cantonale Vaudoise acquired a new stake in shares of Amarin in the 3rd quarter worth about $32,000. Brooklands Fund Management Ltd bought a new stake in Amarin in the 4th quarter valued at about $42,000. Headlands Technologies LLC acquired a new position in Amarin during the 2nd quarter valued at about $44,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Amarin by 1,816.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,750 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 5,450 shares during the period. 22.25% of the stock is owned by institutional investors and hedge funds.

About Amarin

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.