Zacks Research Downgrades Amarin (NASDAQ:AMRN) to Hold

Key Points

• Zacks Research has downgraded Amarin from a "strong-buy" to a "hold" rating, reflecting a shift in analysts' sentiment towards the stock.
• Despite this downgrade, Amarin's stock price has recently seen a 1.0% increase, with shares opening at $15.54 on Monday.
• Amarin reported a better-than-expected quarterly earnings, with revenue of $72.74 million, surpassing analysts' estimates of $45.45 million.

Amarin (NASDAQ:AMRN - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

A number of other analysts have also recently commented on AMRN. Wall Street Zen upgraded Amarin from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. The Goldman Sachs Group lifted their price objective on Amarin from $7.00 to $12.00 and gave the stock a "sell" rating in a research report on Wednesday, June 25th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Amarin presently has a consensus rating of "Reduce" and an average target price of $12.00.

Amarin Stock Up 1.0%

Shares of AMRN stock opened at $15.54 on Monday. Amarin has a fifty-two week low of $7.08 and a fifty-two week high of $17.49. The stock has a market cap of $321.83 million, a P/E ratio of -4.23 and a beta of 0.84. The business has a fifty day simple moving average of $15.51 and a 200-day simple moving average of $12.22.

Amarin (NASDAQ:AMRN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.66) by $0.63. The firm had revenue of $72.74 million during the quarter, compared to analysts' expectations of $45.45 million. Amarin had a negative return on equity of 21.18% and a negative net margin of 47.22%. On average, sell-side analysts anticipate that Amarin will post -0.15 earnings per share for the current year.

Institutional Trading of Amarin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GPS Wealth Strategies Group LLC purchased a new stake in Amarin in the 2nd quarter valued at about $32,000. Headlands Technologies LLC purchased a new stake in Amarin in the 2nd quarter valued at about $44,000. Kornitzer Capital Management Inc. KS grew its holdings in Amarin by 4.0% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 88,200 shares of the biopharmaceutical company's stock valued at $40,000 after buying an additional 3,400 shares during the period. LCM Capital Management Inc lifted its stake in shares of Amarin by 2.4% in the 1st quarter. LCM Capital Management Inc now owns 858,259 shares of the biopharmaceutical company's stock valued at $385,000 after purchasing an additional 20,000 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in shares of Amarin by 26.0% in the 4th quarter. LPL Financial LLC now owns 153,020 shares of the biopharmaceutical company's stock valued at $74,000 after purchasing an additional 31,555 shares in the last quarter. 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.

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