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

Key Points

• Weiss Ratings has restated a "sell (D-)" rating for Amarin (NASDAQ:AMRN), reflecting ongoing concerns about the company's performance.
• Despite the sell rating from Weiss, Zacks Research upgraded Amarin from "hold" to "strong-buy," indicating mixed analyst perspectives on the stock.
• Amarin reported better-than-expected quarterly earnings, with a revenue of $72.74 million, far exceeding analyst estimates of $45.45 million.

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

AMRN has been the topic of several other reports. Zacks Research raised Amarin from a "hold" rating to a "strong-buy" rating in a research report on Monday. Wall Street Zen raised Amarin from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $12.00.

Amarin Stock Up 3.4%

Shares of Amarin stock traded up $0.67 on Friday, hitting $20.13. 451,435 shares of the company's stock traded hands, compared to its average volume of 93,373. The stock has a market cap of $416.29 million, a P/E ratio of -5.49 and a beta of 0.62. The firm's 50-day moving average is $16.65 and its 200 day moving average is $14.18. Amarin has a 52-week low of $7.08 and a 52-week high of $20.90.

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

Institutional Investors Weigh In On Amarin

A number of institutional investors have recently bought and sold shares of AMRN. Banque Cantonale Vaudoise acquired a new position in shares of Amarin in the 1st quarter valued at about $25,000. GPS Wealth Strategies Group LLC acquired a new position in shares of Amarin in the 2nd quarter valued at about $32,000. Kornitzer Capital Management Inc. KS increased its holdings in shares of Amarin by 4.0% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 88,200 shares of the biopharmaceutical company's stock valued at $40,000 after purchasing an additional 3,400 shares during the period. Headlands Technologies LLC acquired a new position in shares of Amarin in the 2nd quarter valued at about $44,000. Finally, Stonepine Capital Management LLC increased its holdings in shares of Amarin by 470.3% in the 1st quarter. Stonepine Capital Management LLC now owns 651,614 shares of the biopharmaceutical company's stock valued at $293,000 after purchasing an additional 537,357 shares during the period. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.

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