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

Wall Street Zen upgraded shares of Amarin (NASDAQ:AMRN) from a hold rating to a buy rating in a research report released on Saturday morning.

Separately, The Goldman Sachs Group boosted their price target on shares of Amarin from $7.00 to $12.00 and gave the stock a “sell” rating in a research report on Wednesday, June 25th.

Amarin Price Performance

Amarin stock opened at $15.38 on Friday. The stock has a market cap of $318.52 million, a P/E ratio of -4.19 and a beta of 0.84. Amarin has a 1 year low of $7.08 and a 1 year high of $17.49. The firm’s 50 day moving average price is $14.55 and its 200-day moving average price is $11.79.

Amarin (NASDAQ:AMRN) last released its quarterly earnings data on Wednesday, July 30th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.63. The firm had revenue of $72.74 million for the quarter, compared to analysts’ expectations of $45.45 million. Amarin had a negative net margin of 47.22% and a negative return on equity of 21.18%. As a group, equities analysts expect that Amarin will post -0.15 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Waterfront Wealth Inc. boosted its stake in shares of Amarin by 1.3% during the first quarter. Waterfront Wealth Inc. now owns 2,514,615 shares of the biopharmaceutical company’s stock valued at $1,127,000 after purchasing an additional 32,849 shares during the period. Kornitzer Capital Management Inc. KS lifted its stake in Amarin by 4.0% in the first quarter. Kornitzer Capital Management Inc. KS now owns 88,200 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 3,400 shares during the period. Jane Street Group LLC purchased a new stake in Amarin in the fourth quarter worth about $130,000. BNP Paribas Financial Markets lifted its stake in Amarin by 3.0% in the fourth quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company’s stock worth $650,000 after acquiring an additional 39,452 shares during the period. Finally, Mercer Global Advisors Inc. ADV bought a new position in Amarin in the fourth quarter worth about $171,000. 22.25% of the stock is 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.