Acadian Asset Management LLC Boosts Stock Holdings in Amarin Corporation PLC $AMRN

Key Points

• Acadian Asset Management LLC increased its holdings in Amarin Corporation PLC by 112.3%, owning approximately 18.31% of the company with 3,791,515 shares valued at $1,685,000.
• Research reports show mixed ratings for Amarin, with Goldman Sachs setting a target price of $12.00 while Zacks lowered the stock rating to a "hold."
• Amarin reported earnings of ($0.03) EPS for the last quarter, significantly beating analyst expectations of ($0.66) and generating revenue of $72.74 million.

Acadian Asset Management LLC grew its stake in shares of Amarin Corporation PLC (NASDAQ:AMRN - Free Report) by 112.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,791,515 shares of the biopharmaceutical company's stock after acquiring an additional 2,005,713 shares during the quarter. Acadian Asset Management LLC owned about 18.31% of Amarin worth $1,685,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Banque Cantonale Vaudoise bought a new stake in Amarin during the first quarter worth approximately $25,000. Kornitzer Capital Management Inc. KS boosted its stake in Amarin by 4.0% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 88,200 shares of the biopharmaceutical company's stock worth $40,000 after purchasing an additional 3,400 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Amarin in the fourth quarter valued at about $130,000. Stonepine Capital Management LLC increased its stake 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 worth $293,000 after acquiring an additional 537,357 shares during the period. Finally, LCM Capital Management Inc increased its holdings in Amarin by 2.4% in the first quarter. LCM Capital Management Inc now owns 858,259 shares of the biopharmaceutical company's stock valued at $385,000 after buying an additional 20,000 shares in the last quarter. Institutional investors own 22.25% of the company's stock.

Wall Street Analyst Weigh In

AMRN has been the topic of several research reports. Wall Street Zen raised shares of Amarin from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Zacks Research cut shares of Amarin from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Finally, The Goldman Sachs Group raised their price target on Amarin from $7.00 to $12.00 and gave the company a "sell" rating in a research report on Wednesday, June 25th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $12.00.

Amarin Stock Performance

Shares of Amarin stock traded up $0.43 during trading on Friday, hitting $15.35. The company's stock had a trading volume of 90,634 shares, compared to its average volume of 49,374. Amarin Corporation PLC has a 52 week low of $7.08 and a 52 week high of $17.49. The company has a fifty day simple moving average of $15.28 and a two-hundred day simple moving average of $12.67. The company has a market capitalization of $317.44 million, a PE ratio of -4.18 and a beta of 0.77.

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, topping analysts' consensus estimates of ($0.66) by $0.63. The firm had revenue of $72.74 million during 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%. As a group, analysts predict that Amarin Corporation PLC will post -0.15 EPS for the current year.

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.