Amarin (NASDAQ:AMRN) Earns Overweight Rating from Cantor Fitzgerald

Amarin (NASDAQ:AMRNGet Free Report)‘s stock had its “overweight” rating restated by research analysts at Cantor Fitzgerald in a research report issued on Tuesday, Benzinga reports.

Separately, StockNews.com upgraded shares of Amarin from a “hold” rating to a “buy” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $1.08.

Check Out Our Latest Stock Analysis on AMRN

Amarin Stock Performance

NASDAQ AMRN traded down $0.01 during mid-day trading on Tuesday, reaching $0.75. 28,115 shares of the stock were exchanged, compared to its average volume of 1,863,816. Amarin has a 1-year low of $0.63 and a 1-year high of $1.49. The business’s fifty day simple moving average is $0.86 and its 200 day simple moving average is $0.96. The stock has a market capitalization of $308.00 million, a PE ratio of -6.25 and a beta of 1.99.

Amarin (NASDAQ:AMRNGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The company had revenue of $56.52 million for the quarter, compared to analyst estimates of $51.34 million. Amarin had a negative net margin of 18.96% and a negative return on equity of 9.48%. During the same quarter last year, the business earned ($0.04) EPS. On average, analysts anticipate that Amarin will post -0.18 EPS for the current year.

Hedge Funds Weigh In On Amarin

Hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. raised its stake in shares of Amarin by 351.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 44,599 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 34,725 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of Amarin by 100.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 46,480 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 23,313 shares during the last quarter. SVB Wealth LLC increased its position in shares of Amarin by 100.0% in the 4th quarter. SVB Wealth LLC now owns 60,000 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 30,000 shares during the last quarter. LCM Capital Management Inc boosted its holdings in shares of Amarin by 5.1% in the 4th quarter. LCM Capital Management Inc now owns 740,159 shares of the biopharmaceutical company’s stock valued at $644,000 after buying an additional 36,000 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in Amarin by 705.2% during the 4th quarter. BNP Paribas Financial Markets now owns 455,177 shares of the biopharmaceutical company’s stock valued at $396,000 after purchasing an additional 398,648 shares during the period. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Amarin Company Profile

(Get Free Report)

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.

Further Reading

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