Amarin (NASDAQ:AMRN) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Amarin (NASDAQ:AMRN) in a research note issued to investors on Tuesday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Amarin Stock Performance

Shares of AMRN stock opened at $0.46 on Tuesday. Amarin has a 52 week low of $0.35 and a 52 week high of $1.05. The company has a market capitalization of $188.21 million, a price-to-earnings ratio of -5.09 and a beta of 1.38. The company has a 50-day simple moving average of $0.50 and a 200 day simple moving average of $0.53.

Amarin’s stock is set 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.

Amarin (NASDAQ:AMRN) last posted its earnings results on Wednesday, March 12th. The biopharmaceutical company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The firm had revenue of $62.31 million during the quarter, compared to analyst estimates of $32.37 million. Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. Sell-side analysts forecast that Amarin will post -0.15 EPS for the current year.

Institutional Investors Weigh In On Amarin

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Stonepine Capital Management LLC bought a new stake in shares of Amarin in the fourth quarter valued at approximately $55,000. BNP Paribas Financial Markets raised its holdings in shares of Amarin by 3.0% during the 4th quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company’s stock worth $650,000 after buying an additional 39,452 shares in the last quarter. AXA S.A. bought a new stake in shares of Amarin during the 4th quarter worth $480,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Amarin in the fourth quarter worth about $171,000. Finally, Jane Street Group LLC bought a new position in Amarin in the 4th quarter valued at approximately $130,000. Institutional investors and hedge funds own 22.25% of the company’s stock.

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.