M Holdings Securities Inc. bought a new position in shares of Amarin Co. plc (NASDAQ:AMRN – Get Rating) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 58,212 shares of the biopharmaceutical company's stock, valued at approximately $192,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gyon Technologies Capital Management LP grew its stake in Amarin by 193.9% during the 1st quarter. Gyon Technologies Capital Management LP now owns 35,609 shares of the biopharmaceutical company's stock worth $117,000 after buying an additional 23,493 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Amarin by 77.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 25,463 shares of the biopharmaceutical company's stock worth $86,000 after acquiring an additional 11,150 shares during the period. Estate Counselors LLC lifted its position in Amarin by 14.3% during the 1st quarter. Estate Counselors LLC now owns 160,000 shares of the biopharmaceutical company's stock worth $526,000 after acquiring an additional 20,000 shares during the period. Western Wealth Management LLC lifted its position in Amarin by 98.9% during the 1st quarter. Western Wealth Management LLC now owns 28,044 shares of the biopharmaceutical company's stock worth $92,000 after acquiring an additional 13,941 shares during the period. Finally, LCM Capital Management Inc lifted its position in Amarin by 53.3% during the 1st quarter. LCM Capital Management Inc now owns 151,241 shares of the biopharmaceutical company's stock worth $530,000 after acquiring an additional 52,600 shares during the period. 34.15% of the stock is currently owned by hedge funds and other institutional investors.
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Analyst Upgrades and Downgrades
A number of brokerages have commented on AMRN. The Goldman Sachs Group lowered their price target on Amarin from $1.75 to $1.50 and set a "sell" rating for the company in a research report on Tuesday, May 24th. StockNews.com raised Amarin from a "sell" rating to a "hold" rating in a report on Wednesday, July 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Amarin has an average rating of "Hold" and an average target price of $2.50.
Amarin Stock Up 0.8 %
Shares of AMRN stock opened at $1.25 on Monday. The stock has a market cap of $504.01 million, a PE ratio of -5.00 and a beta of 1.87. The business has a 50-day simple moving average of $1.36 and a 200-day simple moving average of $1.99. Amarin Co. plc has a 52-week low of $1.09 and a 52-week high of $5.52.
Amarin (NASDAQ:AMRN – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.05). The business had revenue of $94.44 million during the quarter, compared to analyst estimates of $88.21 million. Amarin had a negative return on equity of 13.63% and a negative net margin of 21.05%. The business's revenue for the quarter was down 38.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.02 EPS. Sell-side analysts anticipate that Amarin Co. plc will post -0.36 earnings per share for the current fiscal year.
About Amarin
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Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, Germany, Canada, Lebanon, and the United Arab Emirates. Its lead product is 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.
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