Amarin (NASDAQ:AMRN) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Amarin (NASDAQ:AMRN - Free Report) in a report released on Wednesday morning. The firm issued a sell rating on the biopharmaceutical company's stock.

Amarin Stock Down 2.7 %

Amarin stock traded down $0.25 during midday trading on Wednesday, reaching $9.11. The company's stock had a trading volume of 115,140 shares, compared to its average volume of 72,778. The company has a market cap of $187.06 million, a P/E ratio of -101.22 and a beta of 1.38. The business has a 50-day simple moving average of $9.78 and a 200-day simple moving average of $10.42. Amarin has a fifty-two week low of $7.08 and a fifty-two week high of $20.60.

Amarin (NASDAQ:AMRN - Get Free Report) last posted its earnings results on Wednesday, March 12th. The biopharmaceutical company reported ($2.40) earnings per share for the quarter, missing the consensus estimate of ($1.20) by ($1.20). The business had revenue of $62.31 million for the quarter, compared to analysts' expectations of $32.37 million. Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. As a group, equities analysts forecast that Amarin will post -0.15 earnings per share for the current year.

Hedge Funds Weigh In On Amarin

Several hedge funds have recently made changes to their positions in AMRN. Arkfeld Wealth Strategies L.L.C. grew its stake in Amarin by 52.6% during the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 58,000 shares of the biopharmaceutical company's stock worth $30,000 after buying an additional 20,000 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Amarin during the fourth quarter worth approximately $36,000. Generation Capital Management LLC purchased a new stake in Amarin in the 4th quarter valued at $50,000. Stonepine Capital Management LLC purchased a new position in Amarin during the 4th quarter worth $55,000. Finally, New York State Common Retirement Fund acquired a new position in Amarin in the fourth quarter valued at $68,000. Hedge funds and other institutional investors own 22.25% of the company's stock.

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.