Amarin (NASDAQ:AMRN) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Amarin from "strong sell" to "hold", but the stock still carries an average analyst rating of "Sell" and a consensus price target of $12.00.
• Shares opened at $14.18 (52‑week range $7.08–$20.90) with a market cap of about $295M and a negative P/E; Amarin posted a surprise quarterly EPS of $0.01 vs. (–$1.27) estimate but revenue slightly missed and analysts forecast –$0.15 EPS for the fiscal year.

Amarin (NASDAQ:AMRN - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other research analysts have also issued reports about the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Amarin in a report on Wednesday, January 21st. Wall Street Zen cut Amarin from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Amarin has an average rating of "Sell" and a consensus target price of $12.00.

Amarin Stock Performance

Shares of NASDAQ AMRN opened at $14.18 on Wednesday. Amarin has a 52-week low of $7.08 and a 52-week high of $20.90. The stock has a market cap of $294.84 million, a P/E ratio of -157.56 and a beta of 0.86. The firm has a 50 day moving average price of $14.85 and a 200 day moving average price of $15.72.

Amarin (NASDAQ:AMRN - Get Free Report) last posted its earnings results on Wednesday, February 25th. The biopharmaceutical company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($1.27) by $1.28. Amarin had a negative net margin of 18.16% and a negative return on equity of 5.46%. The company had revenue of $49.22 million for the quarter, compared to analyst estimates of $50.62 million. Analysts predict that Amarin will post -0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Two Sigma Investments LP raised its position in Amarin by 1.8% in the 3rd quarter. Two Sigma Investments LP now owns 60,071 shares of the biopharmaceutical company's stock valued at $984,000 after buying an additional 1,047 shares during the last quarter. Sei Investments Co. grew its stake in shares of Amarin by 4.7% during the 3rd quarter. Sei Investments Co. now owns 29,212 shares of the biopharmaceutical company's stock worth $478,000 after acquiring an additional 1,299 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Amarin during the 3rd quarter worth approximately $32,000. GPS Wealth Strategies Group LLC acquired a new stake in shares of Amarin in the second quarter valued at approximately $32,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Amarin by 13.1% in the third quarter. Ameriprise Financial Inc. now owns 17,376 shares of the biopharmaceutical company's stock worth $285,000 after purchasing an additional 2,008 shares in the last quarter. 22.25% of the stock is owned by institutional investors and hedge funds.

Amarin Company Profile

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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