Amarin (NASDAQ:AMRN) Given "Sell (D-)" Rating at Weiss Ratings

Key Points

• Amarin (NASDAQ:AMRN) has received a "sell (D-)" rating from Weiss Ratings, indicating a negative outlook for the company's stock.
• Goldman Sachs has increased Amarin's price target from $7.00 to $12.00 while maintaining a "sell" rating, reflecting mixed sentiment among analysts.
• Amarin reported a revenue of $72.74 million for the last quarter, significantly surpassing analyst expectations of $45.45 million.

Amarin (NASDAQ:AMRN - Get Free Report)'s stock had its "sell (d-)" rating restated by equities researchers at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other brokerages have also recently weighed in on AMRN. The Goldman Sachs Group boosted their price target on Amarin from $7.00 to $12.00 and gave the stock a "sell" rating in a research report on Wednesday, June 25th. Zacks Research lowered Amarin from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Finally, Wall Street Zen upgraded Amarin from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Sell" and an average price target of $12.00.

Amarin Stock Up 0.1%

Shares of NASDAQ AMRN traded up $0.01 on Wednesday, hitting $19.28. The company had a trading volume of 93,300 shares, compared to its average volume of 91,535. The firm has a market capitalization of $398.71 million, a P/E ratio of -5.25 and a beta of 0.62. Amarin has a 12-month low of $7.08 and a 12-month high of $20.43. The business has a 50 day moving average of $15.57 and a two-hundred day moving average of $13.33.

Amarin (NASDAQ:AMRN - Get Free Report) last posted its earnings results on Wednesday, July 30th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.63. The firm had revenue of $72.74 million for the quarter, compared to analysts' expectations of $45.45 million. Amarin had a negative return on equity of 21.18% and a negative net margin of 47.22%. On average, sell-side analysts anticipate that Amarin will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On Amarin

A number of institutional investors have recently made changes to their positions in AMRN. Waterfront Wealth Inc. boosted its holdings in shares of Amarin by 1.3% during the first quarter. Waterfront Wealth Inc. now owns 2,514,615 shares of the biopharmaceutical company's stock worth $1,127,000 after acquiring an additional 32,849 shares during the period. Kornitzer Capital Management Inc. KS raised its position in shares of Amarin by 4.0% in the first quarter. Kornitzer Capital Management Inc. KS now owns 88,200 shares of the biopharmaceutical company's stock valued at $40,000 after buying an additional 3,400 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Amarin in the first quarter valued at approximately $25,000. LCM Capital Management Inc raised its position in shares of Amarin by 2.4% in the first quarter. LCM Capital Management Inc now owns 858,259 shares of the biopharmaceutical company's stock valued at $385,000 after buying an additional 20,000 shares in the last quarter. Finally, Stonepine Capital Management LLC raised its position in shares of Amarin by 470.3% in the first quarter. Stonepine Capital Management LLC now owns 651,614 shares of the biopharmaceutical company's stock valued at $293,000 after buying an additional 537,357 shares in the last quarter. Institutional investors own 22.25% of the company's stock.

Amarin Company Profile

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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