Wall Street Zen Downgrades Amarin (NASDAQ:AMRN) to Hold

by · The Cerbat Gem

Amarin (NASDAQ:AMRN – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Other equities analysts also recently issued research reports about the company. Zacks Research upgraded Amarin from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Amarin in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Amarin presently has an average rating of “Moderate Buy”.

Check Out Our Latest Report on AMRN

Amarin Stock Performance

Shares of NASDAQ:AMRN opened at $13.55 on Friday. The firm has a market capitalization of $284.14 million, a P/E ratio of -20.85 and a beta of 0.80. The stock has a 50 day moving average price of $14.90 and a 200-day moving average price of $14.88. Amarin has a 52-week low of $12.96 and a 52-week high of $20.90.

Institutional Trading of Amarin

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in shares of Amarin by 197.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,576 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 1,046 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in Amarin during the third quarter valued at $32,000. Headlands Technologies LLC purchased a new position in Amarin during the second quarter valued at $44,000. Brooklands Fund Management Ltd purchased a new position in Amarin during the fourth quarter valued at $42,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Amarin by 1,816.7% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,750 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 5,450 shares in the last quarter. 22.25% of the stock is owned by institutional investors.

Amarin Company Profile

(Get Free Report)

Amarin Corporation plc is a biopharmaceutical company focused on the commercialization and development of therapeutics for cardiovascular health. Founded in 1993 and headquartered in Dublin, Ireland, the company is publicly traded on the NASDAQ under the ticker AMRN. Amarin’s primary mission is to improve cardiovascular outcomes through innovative lipid science and evidence-based therapies.

The company’s flagship product is Vascepa® (icosapent ethyl), a high-purity prescription omega-3 fatty acid approved for the treatment of severe hypertriglyceridemia and as an adjunct to statin therapy to reduce the risk of cardiovascular events.

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