Stonepine Capital Management LLC Buys 537,357 Shares of Amarin Corporation PLC $AMRN

Key Points

• Stonepine Capital Management LLC significantly increased its stake in Amarin Corporation by 470.3% during the first quarter, owning approximately 3.15% of the company after acquiring over 537,000 additional shares.
• Amarin reported a net revenue of $72.74 million for the last quarter, surpassing analysts' expectations of $45.45 million, with earnings per share beating estimates as well.
• Analysts have mixed views on Amarin, with The Goldman Sachs Group and others providing a "sell" rating, while some upgraded their outlook to "buy," reflecting varying confidence in the company's future performance.

Stonepine Capital Management LLC boosted its stake in shares of Amarin Corporation PLC (NASDAQ:AMRN - Free Report) by 470.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 651,614 shares of the biopharmaceutical company's stock after acquiring an additional 537,357 shares during the quarter. Stonepine Capital Management LLC owned 3.15% of Amarin worth $293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMRN. LCM Capital Management Inc raised its position in shares of Amarin by 2.4% in the 1st quarter. LCM Capital Management Inc now owns 858,259 shares of the biopharmaceutical company's stock worth $385,000 after acquiring an additional 20,000 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Amarin during the first quarter valued at approximately $25,000. Kornitzer Capital Management Inc. KS grew its stake in shares of Amarin by 4.0% in the first quarter. Kornitzer Capital Management Inc. KS now owns 88,200 shares of the biopharmaceutical company's stock worth $40,000 after acquiring an additional 3,400 shares during the last quarter. Waterfront Wealth Inc. raised its holdings in Amarin by 1.3% in the first quarter. Waterfront Wealth Inc. now owns 2,514,615 shares of the biopharmaceutical company's stock worth $1,127,000 after buying an additional 32,849 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Amarin by 3.0% during the fourth quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company's stock valued at $650,000 after acquiring an additional 39,452 shares in the last quarter. 22.25% of the stock is currently owned by institutional investors.

Amarin Price Performance

Shares of NASDAQ:AMRN traded down $0.07 during trading hours on Thursday, hitting $15.40. 45,955 shares of the company's stock traded hands, compared to its average volume of 93,202. The business has a fifty day moving average price of $15.55 and a 200-day moving average price of $12.24. Amarin Corporation PLC has a 1 year low of $7.08 and a 1 year high of $17.49. The firm has a market capitalization of $318.93 million, a P/E ratio of -4.20 and a beta of 0.84.

Amarin (NASDAQ:AMRN - Get Free Report) last issued its earnings results on Wednesday, July 30th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping 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 business had revenue of $72.74 million for the quarter, compared to analyst estimates of $45.45 million. As a group, equities analysts predict that Amarin Corporation PLC will post -0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMRN. Wall Street Zen upgraded shares of Amarin from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. The Goldman Sachs Group increased their target price on Amarin from $7.00 to $12.00 and gave the company a "sell" rating in a report on Wednesday, June 25th. Finally, Zacks Research cut shares of Amarin from a "strong-buy" rating to a "hold" rating in a research note on Monday. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $12.00.

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.