StockNews.com cut shares of Amarin (NASDAQ:AMRN – Free Report) from a hold rating to a sell rating in a report released on Saturday morning.
Amarin Stock Performance
AMRN opened at $0.42 on Friday. Amarin has a 52-week low of $0.35 and a 52-week high of $1.11. The firm has a market cap of $170.43 million, a P/E ratio of -4.61 and a beta of 1.82. The business’s fifty day moving average is $0.55 and its 200-day moving average is $0.55.
Amarin shares are going to reverse split before the market opens on Friday, April 11th. The 1-20 reverse split was announced on Wednesday, March 12th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, April 10th.
Institutional Investors Weigh In On Amarin
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Arkfeld Wealth Strategies L.L.C. increased its holdings in 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 purchasing an additional 20,000 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Amarin during the fourth quarter valued at $36,000. Generation Capital Management LLC acquired a new stake in Amarin during the fourth quarter worth approximately $50,000. Stonepine Capital Management LLC acquired a new stake in shares of Amarin during the 4th quarter worth approximately $55,000. Finally, New York State Common Retirement Fund bought a new stake in Amarin in the fourth quarter valued at $68,000. 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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