Amarin (NASDAQ:AMRN) Stock Rating Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Amarin (NASDAQ:AMRN) from a hold rating to a buy rating in a report issued on Saturday morning,Wall Street Zen reports.

Other equities analysts also recently issued research reports about the company. Zacks Research raised Amarin from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. JPMorgan Chase & Co. assumed coverage on Amarin in a report on Friday, August 21st. They issued an “underweight” rating and a $13.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amarin in a research note on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.00.

Amarin Stock Performance

Shares of NASDAQ AMRN opened at $12.07 on Friday. Amarin has a 52-week low of $11.25 and a 52-week high of $17.31. The firm has a market capitalization of $254.92 million, a price-to-earnings ratio of -12.57 and a beta of 0.76. The stock has a 50 day moving average price of $12.97 and a 200 day moving average price of $14.32.

Amarin (NASDAQ:AMRN) last released its quarterly earnings data on Wednesday, October 28th. The biopharmaceutical company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.11. The company had revenue of $39.55 million for the quarter, compared to the consensus estimate of $43.76 million. Amarin had a negative return on equity of 0.52% and a negative net margin of 10.87%. Analysts forecast that Amarin will post -0.85 earnings per share for the current year.

Hedge Funds Weigh In On Amarin

Large investors have recently bought and sold shares of the business. Waterfront Wealth Inc. boosted its position in Amarin by 42.7% during the 1st quarter. Waterfront Wealth Inc. now owns 203,338 shares of the biopharmaceutical company’s stock valued at $2,940,000 after acquiring an additional 60,798 shares in the last quarter. Brooklands Fund Management Ltd increased its holdings in shares of Amarin by 23.1% in the 3rd quarter. Brooklands Fund Management Ltd now owns 218,373 shares of the biopharmaceutical company’s stock valued at $2,839,000 after acquiring an additional 41,048 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of Amarin in the 3rd quarter worth $146,000. LCM Capital Management Inc raised its position in shares of Amarin by 17.1% in the 3rd quarter. LCM Capital Management Inc now owns 60,162 shares of the biopharmaceutical company’s stock worth $782,000 after acquiring an additional 8,800 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Amarin by 197.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,576 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 1,046 shares in the last quarter. Institutional investors own 22.25% of the company’s stock.

About Amarin

Amarin Corporation plc is a biopharmaceutical company focused on developing and commercializing therapies intended to reduce cardiovascular risk. Its principal product is VASCEPA (icosapent ethyl), a prescription omega-3 fatty-acid medicine derived from highly purified eicosapentaenoic acid.

VASCEPA was initially approved in the United States to help lower triglyceride levels in certain patients and later received expanded approval to reduce the risk of cardiovascular events in eligible adults with elevated cardiovascular risk.