Amarin (NASDAQ:AMRN) Stock Rating Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Amarin from “strong buy” to “hold.” Analyst views remain mixed, though MarketBeat reports an average “sell” rating and an average price target of $13.
• Amarin shares rose 1.7% and opened at $12.25; the stock’s 12-month range is $11.25 to $17.31.
• In its latest quarter, Amarin reported EPS of $0.01, beating estimates of a $0.10 loss, but revenue of $39.55 million fell short of the $43.76 million consensus.

Amarin (NASDAQ:AMRN - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Tuesday, Zacks reports.

Several other equities research analysts have also recently commented on AMRN. Wall Street Zen upgraded shares of Amarin from a "hold" rating to a "buy" rating in a research report on Saturday, October 31st. JPMorgan Chase & Co. initiated coverage on shares of Amarin in a report on Friday, August 21st. They issued an "underweight" rating and a $13.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Amarin in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Sell" and an average price target of $13.00.

Amarin Stock Up 1.7%

Amarin stock opened at $12.25 on Tuesday. The business's 50-day simple moving average is $12.85 and its 200 day simple moving average is $14.28. The stock has a market cap of $258.72 million, a price-to-earnings ratio of -12.76 and a beta of 0.81. Amarin has a 12-month low of $11.25 and a 12-month high of $17.31.

Amarin (NASDAQ:AMRN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The biopharmaceutical company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.11. The firm had revenue of $39.55 million during the quarter, compared to analyst estimates of $43.76 million. Amarin had a negative return on equity of 0.52% and a negative net margin of 10.87%. As a group, sell-side analysts expect that Amarin will post -0.85 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in Amarin by 197.4% in the second quarter. GAMMA Investing LLC now owns 1,576 shares of the biopharmaceutical company's stock valued at $25,000 after purchasing an additional 1,046 shares in the last quarter. LCM Capital Management Inc raised its holdings in Amarin by 17.1% in the third quarter. LCM Capital Management Inc now owns 60,162 shares of the biopharmaceutical company's stock worth $782,000 after purchasing an additional 8,800 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in Amarin in the third quarter worth $146,000. Renaissance Technologies LLC bought a new position in shares of Amarin during the first quarter worth $278,000. Finally, Brooklands Fund Management Ltd boosted its position in shares of Amarin by 23.1% during the third quarter. Brooklands Fund Management Ltd now owns 218,373 shares of the biopharmaceutical company's stock worth $2,839,000 after purchasing an additional 41,048 shares in the last quarter. Institutional investors own 22.25% of the company's stock.

About Amarin

Amarin Corporation plc is a biopharmaceutical company focused on developing and commercializing therapies intended to reduce cardiovascular risk. Its principal product is VASCEPA (icosapent ethyl), a prescription omega-3 fatty-acid medicine derived from highly purified eicosapentaenoic acid.

VASCEPA was initially approved in the United States to help lower triglyceride levels in certain patients and later received expanded approval to reduce the risk of cardiovascular events in eligible adults with elevated cardiovascular risk.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.