Amarin (NASDAQ:AMRN) Now Covered by StockNews.com

StockNews.com started coverage on shares of Amarin (NASDAQ:AMRN) in a report issued on Wednesday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Amarin Stock Performance

AMRN stock opened at $9.36 on Wednesday. The firm has a market cap of $192.20 million, a P/E ratio of -104.00 and a beta of 1.38. The firm’s fifty day moving average is $9.83 and its 200 day moving average is $10.49. Amarin has a 52 week low of $7.08 and a 52 week high of $20.60.

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

Institutional Inflows and Outflows

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

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.