LCM Capital Management Inc Trims Stock Position in Amarin Corporation PLC $AMRN

Key Points

• LCM Capital Management Inc reduced its stake in Amarin Corporation by 95.0%, selling 815,348 shares during the second quarter, leaving it with only 42,911 shares valued at approximately $696,000.
• Amarin's stock performance shows a one-year low of $7.08 and a high of $17.49, currently trading around $15.35 with a market cap of $317.44 million.
• The stock has received mixed ratings from analysts, with Goldman Sachs setting a price target of $12.00 while Wall Street Zen upgraded it to a "buy" rating.

LCM Capital Management Inc lowered its holdings in shares of Amarin Corporation PLC (NASDAQ:AMRN - Free Report) by 95.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 42,911 shares of the biopharmaceutical company's stock after selling 815,348 shares during the period. LCM Capital Management Inc owned about 0.21% of Amarin worth $696,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in AMRN. Acadian Asset Management LLC increased its holdings in shares of Amarin by 112.3% in the first quarter. Acadian Asset Management LLC now owns 3,791,515 shares of the biopharmaceutical company's stock worth $1,685,000 after buying an additional 2,005,713 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Amarin by 449,522.1% during the first quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company's stock valued at $815,000 after purchasing an additional 1,811,574 shares during the period. Stonepine Capital Management LLC grew its holdings 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 purchasing an additional 537,357 shares during the last quarter. Jane Street Group LLC bought a new stake in Amarin during the 4th quarter valued at $130,000. Finally, Banque Cantonale Vaudoise purchased a new stake in Amarin during the 1st quarter valued at $25,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on AMRN shares. The Goldman Sachs Group upped 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. Wall Street Zen raised shares of Amarin from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Zacks Research lowered Amarin from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 25th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of $12.00.

Amarin Stock Performance

Shares of AMRN traded up $0.03 during mid-day trading on Monday, reaching $15.38. The stock had a trading volume of 82,761 shares, compared to its average volume of 51,675. The firm has a market cap of $318.06 million, a price-to-earnings ratio of -4.19 and a beta of 0.77. The business has a fifty day moving average of $15.26 and a 200 day moving average of $12.73. Amarin Corporation PLC has a 12 month low of $7.08 and a 12 month high of $17.49.

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 (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.63. The firm had revenue of $72.74 million for the quarter, compared to analysts' expectations of $45.45 million. Amarin had a negative net margin of 47.22% and a negative return on equity of 21.18%. On average, research analysts forecast that Amarin Corporation PLC will post -0.15 EPS for the current fiscal 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.