SCP Investment LP Reduces Stock Holdings in Amarin Corporation PLC $AMRN

SCP Investment LP cut its position in Amarin Corporation PLC (NASDAQ:AMRN) by 95.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,000 shares of the biopharmaceutical company’s stock after selling 2,375,000 shares during the quarter. Amarin comprises approximately 1.6% of SCP Investment LP’s holdings, making the stock its 10th biggest position. SCP Investment LP’s holdings in Amarin were worth $2,028,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC raised 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 acquiring an additional 2,005,713 shares in the last quarter. LCM Capital Management Inc increased its stake in shares of Amarin by 2.4% during the 1st quarter. LCM Capital Management Inc now owns 858,259 shares of the biopharmaceutical company’s stock worth $385,000 after purchasing an additional 20,000 shares during the last quarter. Stonepine Capital Management LLC raised its holdings in shares of Amarin by 470.3% in the 1st quarter. Stonepine Capital Management LLC now owns 651,614 shares of the biopharmaceutical company’s stock valued at $293,000 after purchasing an additional 537,357 shares during the period. Banque Cantonale Vaudoise acquired a new stake in Amarin in the 1st quarter valued at about $25,000. Finally, GPS Wealth Strategies Group LLC bought a new position in Amarin during the second quarter worth about $32,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Amarin Price Performance

AMRN stock opened at $16.14 on Thursday. Amarin Corporation PLC has a fifty-two week low of $7.08 and a fifty-two week high of $20.90. The stock has a market capitalization of $335.55 million, a price-to-earnings ratio of -6.48 and a beta of 0.68. The business’s fifty day moving average price is $17.23 and its two-hundred day moving average price is $15.34.

Analysts Set New Price Targets

Several analysts have issued reports on AMRN shares. Wall Street Zen upgraded Amarin from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Zacks Research downgraded Amarin from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amarin in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Sell” and a consensus price target of $12.00.

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.