Amarin (NASDAQ:AMRN) Stock Rating Upgraded by Wall Street Zen

Key Points

• Amarin's stock rating was upgraded from a "hold" to a "buy" by Wall Street Zen, indicating increased confidence in the company's future performance.
• The Goldman Sachs Group adjusted their price target for Amarin from $7.00 to $12.00, maintaining a "sell" rating, suggesting caution to investors despite the upgrade from Wall Street Zen.
• Amarin reported quarterly earnings that exceeded analysts' expectations, with revenue of $72.74 million, compared to the anticipated $45.45 million, demonstrating strong performance in its market segment.

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

Separately, The Goldman Sachs Group lifted their price objective on shares of Amarin from $7.00 to $12.00 and gave the company a "sell" rating in a report on Wednesday, June 25th.

Amarin Stock Performance

AMRN opened at $15.16 on Friday. Amarin has a fifty-two week low of $7.08 and a fifty-two week high of $17.49. The company has a fifty day moving average of $14.46 and a two-hundred day moving average of $11.75. The stock has a market capitalization of $313.96 million, a price-to-earnings ratio of -4.13 and a beta of 0.84.

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

Institutional Trading of Amarin

Several institutional investors have recently modified their holdings of AMRN. Acadian Asset Management LLC grew its position in shares of Amarin by 112.3% in the first quarter. Acadian Asset Management LLC now owns 3,791,515 shares of the biopharmaceutical company's stock valued at $1,685,000 after purchasing an additional 2,005,713 shares during the period. Jones Financial Companies Lllp grew its position in shares of Amarin by 449,522.1% in the first quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company's stock valued at $815,000 after purchasing an additional 1,811,574 shares during the period. AXA S.A. acquired a new stake in shares of Amarin in the fourth quarter valued at about $480,000. Raymond James Financial Inc. acquired a new stake in shares of Amarin in the fourth quarter valued at about $343,000. Finally, Stonepine Capital Management LLC grew 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 purchasing an additional 537,357 shares during the period. Institutional investors and hedge funds 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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