Waterfront Wealth Inc. Has $1.13 Million Stock Holdings in Amarin Corporation PLC (NASDAQ:AMRN)

Waterfront Wealth Inc. lifted its position in Amarin Corporation PLC (NASDAQ:AMRN - Free Report) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,514,615 shares of the biopharmaceutical company's stock after acquiring an additional 32,849 shares during the period. Waterfront Wealth Inc. owned approximately 12.25% of Amarin worth $1,127,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. AXA S.A. bought a new position in shares of Amarin during the 4th quarter worth approximately $480,000. Raymond James Financial Inc. acquired a new stake in Amarin during the 4th quarter valued at $343,000. Quinn Opportunity Partners LLC lifted its holdings in shares of Amarin by 85.2% during the fourth quarter. Quinn Opportunity Partners LLC now owns 1,106,539 shares of the biopharmaceutical company's stock worth $537,000 after buying an additional 508,989 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Amarin during the fourth quarter worth $171,000. Finally, Jane Street Group LLC acquired a new stake in shares of Amarin during the fourth quarter worth $130,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Amarin Price Performance

AMRN opened at $15.71 on Friday. The company has a market capitalization of $325.35 million, a price-to-earnings ratio of -4.32 and a beta of 0.71. The firm's fifty day moving average price is $11.79 and its two-hundred day moving average price is $10.69. Amarin Corporation PLC has a 1 year low of $7.08 and a 1 year high of $17.18.

Amarin (NASDAQ:AMRN - Get Free Report) last announced its earnings results on Wednesday, May 7th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02. Amarin had a negative return on equity of 17.21% and a negative net margin of 41.07%. As a group, equities analysts anticipate that Amarin Corporation PLC will post -0.15 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wall Street Zen raised Amarin from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th. 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.

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.

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