Amarin (NASDAQ:AMRN) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Amarin from “hold” to “buy,” adding to mixed analyst sentiment on the stock. Other firms remain split, with Weiss Ratings at “sell” and Zacks Research at “strong-buy,” leaving the consensus at a “Moderate Buy.”
• Amarin shares fell 1.6% in Friday trading to $14.88, just below its 50-day moving average and roughly in line with its 200-day moving average. The stock has a market cap of about $312 million and has traded between $12.96 and $20.90 over the past year.
• Institutional investors have been active in Amarin, with several funds increasing their stakes during recent quarters. Hedge funds and other institutions now own about 22.25% of the company.

Amarin (NASDAQ:AMRN - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Sunday.

Several other research firms have also weighed in on AMRN. Weiss Ratings restated a "sell (d-)" rating on shares of Amarin in a research report on Monday, April 20th. Zacks Research upgraded Amarin from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy".

Amarin Trading Down 1.6%

Amarin stock traded down $0.24 during trading hours on Friday, hitting $14.88. 74,753 shares of the stock traded hands, compared to its average volume of 84,694. The firm's 50-day moving average price is $15.05 and its two-hundred day moving average price is $14.86. The company has a market cap of $312.03 million, a PE ratio of -22.89 and a beta of 0.80. Amarin has a one year low of $12.96 and a one year high of $20.90.

Hedge Funds Weigh In On Amarin

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in shares of Amarin by 197.4% in the second quarter. GAMMA Investing LLC now owns 1,576 shares of the biopharmaceutical company's stock worth $25,000 after buying an additional 1,046 shares in the last quarter. Two Sigma Investments LP raised its holdings in Amarin by 1.8% in the 3rd quarter. Two Sigma Investments LP now owns 60,071 shares of the biopharmaceutical company's stock worth $984,000 after acquiring an additional 1,047 shares during the last quarter. Sei Investments Co. lifted its position in Amarin by 4.7% in the 3rd quarter. Sei Investments Co. now owns 29,212 shares of the biopharmaceutical company's stock valued at $478,000 after acquiring an additional 1,299 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Amarin in the 3rd quarter valued at approximately $32,000. Finally, Ameriprise Financial Inc. boosted its stake in Amarin by 13.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 17,376 shares of the biopharmaceutical company's stock valued at $285,000 after purchasing an additional 2,008 shares during the last quarter. Institutional investors own 22.25% of the company's stock.

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.

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