Amarin Corporation PLC (NASDAQ:AMRN) Holdings Lifted by LCM Capital Management Inc

Key Points

• LCM Capital Management Inc increased its stake in Amarin Corporation PLC by 2.4%, holding a total of 858,259 shares valued at $385,000.
• Amarin reported earnings of ($0.03) per share for the last quarter, significantly beating analysts' expectations of ($0.66) and achieving a revenue of $72.74 million.
• Equities research analysts have upgraded Amarin from a "hold" to a "buy" rating, with Goldman Sachs increasing their price target from $7.00 to $12.00.

LCM Capital Management Inc raised its position in shares of Amarin Corporation PLC (NASDAQ:AMRN - Free Report) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 858,259 shares of the biopharmaceutical company's stock after acquiring an additional 20,000 shares during the quarter. LCM Capital Management Inc owned approximately 4.14% of Amarin worth $385,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. AXA S.A. purchased a new position in Amarin in the fourth quarter worth approximately $480,000. Raymond James Financial Inc. purchased a new position in Amarin in the fourth quarter worth approximately $343,000. Quinn Opportunity Partners LLC grew its position in Amarin by 85.2% in the fourth quarter. Quinn Opportunity Partners LLC now owns 1,106,539 shares of the biopharmaceutical company's stock worth $537,000 after acquiring an additional 508,989 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Amarin during the fourth quarter worth $171,000. Finally, Jane Street Group LLC acquired a new position in Amarin during the fourth quarter worth $130,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Amarin Stock Down 0.7%

Shares of Amarin stock traded down $0.11 during trading on Friday, hitting $14.99. 75,706 shares of the company were exchanged, compared to its average volume of 73,631. The firm has a 50 day moving average price of $14.83 and a 200 day moving average price of $11.88. The stock has a market capitalization of $310.44 million, a price-to-earnings ratio of -4.08 and a beta of 0.84. Amarin Corporation PLC has a fifty-two week low of $7.08 and a fifty-two week high of $17.49.

Amarin (NASDAQ:AMRN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.63. Amarin had a negative return on equity of 21.18% and a negative net margin of 47.22%. The company had revenue of $72.74 million during the quarter, compared to the consensus estimate of $45.45 million. Analysts predict that Amarin Corporation PLC will post -0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMRN. Wall Street Zen upgraded Amarin from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. 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 note on Wednesday, June 25th.

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.