Waterfront Wealth Inc. Increases Position in Amarin Corporation PLC (NASDAQ:AMRN)

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

Several other institutional investors and hedge funds also recently made changes to their positions in AMRN. Stonepine Capital Management LLC acquired a new stake in shares of Amarin in the 4th quarter valued at $55,000. BNP Paribas Financial Markets increased its stake in Amarin by 3.0% in the fourth quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company's stock valued at $650,000 after purchasing an additional 39,452 shares in the last quarter. AXA S.A. bought a new stake in shares of Amarin during the fourth quarter valued at approximately $480,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Amarin in the 4th quarter worth about $171,000. Finally, Jane Street Group LLC purchased a new position in shares of Amarin during the fourth quarter valued at approximately $130,000. Institutional investors and hedge funds own 22.25% of the company's stock.

Amarin Trading Down 1.0%

Amarin stock traded down $0.16 on Wednesday, hitting $16.65. 111,542 shares of the stock traded hands, compared to its average volume of 82,013. Amarin Corporation PLC has a 1 year low of $7.08 and a 1 year high of $18.68. The business's fifty day simple moving average is $12.05 and its 200 day simple moving average is $10.80. The firm has a market cap of $344.82 million, a P/E ratio of -4.57 and a beta of 0.82.

Amarin (NASDAQ:AMRN - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported ($0.04) 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, analysts predict that Amarin Corporation PLC will post -0.15 earnings per share for the current year.

Analysts Set New Price Targets

AMRN has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their target price on Amarin from $7.00 to $12.00 and gave the stock a "sell" rating in a research note on Wednesday, June 25th. Wall Street Zen upgraded shares of Amarin from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th.

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.