Amarin (NASDAQ:AMRN) Lowered to Hold Rating by Wall Street Zen

Amarin (NASDAQ:AMRN) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other brokerages have also issued reports on AMRN. Zacks Research raised shares of Amarin from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amarin in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Amarin currently has a consensus rating of “Moderate Buy”.

Amarin Stock Down 0.4%

Shares of Amarin stock opened at $13.55 on Friday. The firm has a market cap of $284.14 million, a PE ratio of -20.85 and a beta of 0.80. Amarin has a 52 week low of $12.96 and a 52 week high of $20.90. The business’s fifty day simple moving average is $14.90 and its 200-day simple moving average is $14.88.

Institutional Trading of Amarin

A number of institutional investors and hedge funds have recently bought and sold shares of AMRN. GAMMA Investing LLC lifted its position in shares of Amarin by 197.4% during the second quarter. GAMMA Investing LLC now owns 1,576 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 1,046 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Amarin in the third quarter valued at approximately $32,000. Headlands Technologies LLC purchased a new position in shares of Amarin in the second quarter valued at approximately $44,000. Brooklands Fund Management Ltd acquired a new position in shares of Amarin in the fourth quarter valued at approximately $42,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings 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 purchasing an additional 5,450 shares in the last quarter. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

About Amarin

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.