Amarin (NASDAQ:AMRN) Stock Lifted to Strong-Buy by Zacks Research

Zacks Research upgraded shares of Amarin (NASDAQ:AMRN) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks reports.

A number of other brokerages have also commented on AMRN. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amarin in a research report on Friday, July 17th. Wall Street Zen cut shares of Amarin from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, JPMorgan Chase & Co. started coverage on Amarin in a research note on Friday, August 21st. They issued an “underweight” rating and a $13.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.00.

Amarin Stock Performance

NASDAQ:AMRN opened at $12.07 on Monday. The stock’s fifty day moving average price is $13.80 and its two-hundred day moving average price is $14.42. Amarin has a 52-week low of $11.83 and a 52-week high of $20.90. The company has a market cap of $254.92 million, a price-to-earnings ratio of -12.19 and a beta of 0.76.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Amarin by 197.4% in the second quarter. GAMMA Investing LLC now owns 1,576 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 1,046 shares in the last quarter. Brooklands Fund Management Ltd bought a new stake in shares of Amarin during the fourth quarter worth $42,000. Eversept Partners LP raised its holdings in shares of Amarin by 2.9% during the fourth quarter. Eversept Partners LP now owns 172,188 shares of the biopharmaceutical company’s stock worth $2,403,000 after acquiring an additional 4,912 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Amarin during the first quarter worth $278,000. Finally, Waterfront Wealth Inc. lifted its position in Amarin by 42.7% in the 1st quarter. Waterfront Wealth Inc. now owns 203,338 shares of the biopharmaceutical company’s stock valued at $2,940,000 after acquiring an additional 60,798 shares in the last quarter. Institutional investors own 22.25% of the company’s stock.

About Amarin

Amarin Corporation plc (NASDAQ:AMRN) is a biopharmaceutical company focused on developing and commercializing therapies for cardiovascular disease. The company’s primary product is icosapent ethyl, an omega-3 fatty acid formulation derived from eicosapentaenoic acid (EPA).

In the United States, icosapent ethyl is marketed as Vascepa and is approved as an adjunct to diet for certain patients with elevated triglyceride levels. It is also approved to reduce the risk of cardiovascular events, such as heart attack and stroke, in specified high-risk adult patients.