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

Amarin (NASDAQ:AMRN) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Friday.

Other equities research analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Amarin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amarin in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Amarin presently has a consensus rating of “Sell” and a consensus price target of $12.00.

Amarin Stock Down 2.2%

Shares of NASDAQ AMRN opened at $15.79 on Friday. The firm’s 50-day moving average price is $17.26 and its 200-day moving average price is $15.42. Amarin has a 52-week low of $7.08 and a 52-week high of $20.90. The company has a market cap of $328.27 million, a PE ratio of -6.34 and a beta of 0.68.

Hedge Funds Weigh In On Amarin

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC boosted its position in shares of Amarin by 112.3% during the 1st quarter. Acadian Asset Management LLC now owns 3,791,515 shares of the biopharmaceutical company’s stock valued at $1,685,000 after acquiring an additional 2,005,713 shares during the last quarter. Jones Financial Companies Lllp increased its position in Amarin by 449,522.1% in the first quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company’s stock worth $815,000 after purchasing an additional 1,811,574 shares during the last quarter. Stonepine Capital Management LLC increased its position in Amarin by 470.3% in the first quarter. Stonepine Capital Management LLC now owns 651,614 shares of the biopharmaceutical company’s stock worth $293,000 after purchasing an additional 537,357 shares during the last quarter. Millennium Management LLC raised its stake in Amarin by 192.6% during the third quarter. Millennium Management LLC now owns 132,391 shares of the biopharmaceutical company’s stock valued at $2,169,000 after purchasing an additional 87,147 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in Amarin during the first quarter valued at $25,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

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.