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

Amarin (NASDAQ:AMRN) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Friday.

Several other equities analysts have also recently issued reports on AMRN. Zacks Research cut Amarin from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amarin in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Amarin presently has an average rating of “Sell” and a consensus target price of $12.00.

Amarin Price Performance

NASDAQ AMRN opened at $15.79 on Friday. Amarin has a 1 year low of $7.08 and a 1 year high of $20.90. The company has a market capitalization of $328.27 million, a PE ratio of -6.34 and a beta of 0.68. The company has a fifty day moving average of $17.26 and a 200 day moving average of $15.39.

Institutional Investors Weigh In On Amarin

A number of institutional investors have recently modified their holdings of AMRN. Banque Cantonale Vaudoise purchased a new position in shares of Amarin in the 1st quarter valued at about $25,000. GPS Wealth Strategies Group LLC acquired a new stake in Amarin in the second quarter valued at approximately $32,000. Headlands Technologies LLC acquired a new stake in Amarin in the second quarter valued at approximately $44,000. Northwestern Mutual Wealth Management Co. increased its position in shares of 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 valued at $94,000 after buying an additional 5,450 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Amarin by 13.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 17,376 shares of the biopharmaceutical company’s stock worth $285,000 after buying an additional 2,008 shares during the period. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.