Zacks Research Upgrades Amarin (NASDAQ:AMRN) to “Strong-Buy”

Amarin (NASDAQ:AMRN) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Several other equities analysts have also weighed in on the company. Wall Street Zen upgraded Amarin from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. The Goldman Sachs Group raised their price target on Amarin from $7.00 to $12.00 and gave the company a “sell” rating in a research report on Wednesday, June 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amarin in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.00.

Amarin Price Performance

NASDAQ AMRN opened at $19.94 on Monday. Amarin has a fifty-two week low of $7.08 and a fifty-two week high of $20.65. The stock’s 50-day moving average is $16.47 and its two-hundred day moving average is $14.07. The firm has a market cap of $412.36 million, a P/E ratio of -5.43 and a beta of 0.62.

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

Institutional Investors Weigh In On Amarin

A number of institutional investors have recently added to or reduced their stakes in AMRN. Acadian Asset Management LLC grew its position in Amarin by 112.3% during the first quarter. Acadian Asset Management LLC now owns 3,791,515 shares of the biopharmaceutical company’s stock worth $1,685,000 after buying an additional 2,005,713 shares in the last quarter. Jones Financial Companies Lllp grew its position in Amarin by 449,522.1% during the first quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company’s stock worth $815,000 after buying an additional 1,811,574 shares in the last quarter. Stonepine Capital Management LLC grew its position in Amarin by 470.3% during the first quarter. Stonepine Capital Management LLC now owns 651,614 shares of the biopharmaceutical company’s stock worth $293,000 after buying an additional 537,357 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Amarin during the first quarter worth about $25,000. Finally, Jump Financial LLC acquired a new stake in Amarin during the second quarter worth about $623,000. 22.25% of the stock is owned by institutional investors and hedge funds.

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.