Amarin (NASDAQ:AMRN) Upgraded at StockNews.com

StockNews.com upgraded shares of Amarin (NASDAQ:AMRN) from a sell rating to a hold rating in a report released on Tuesday.

Amarin Trading Up 8.1 %

AMRN stock opened at $0.61 on Tuesday. The company’s 50 day moving average is $0.52 and its 200 day moving average is $0.57. The stock has a market cap of $248.62 million, a price-to-earnings ratio of -6.73 and a beta of 1.83. Amarin has a 1-year low of $0.43 and a 1-year high of $1.36.

Institutional Trading of Amarin

Several hedge funds and other institutional investors have recently bought and sold shares of AMRN. Waterfront Wealth Inc. boosted its stake in Amarin by 181.4% in the fourth quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock worth $1,204,000 after buying an additional 1,599,956 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Amarin in the fourth quarter worth approximately $343,000. Quinn Opportunity Partners LLC boosted its stake in Amarin by 85.2% in the fourth quarter. Quinn Opportunity Partners LLC now owns 1,106,539 shares of the biopharmaceutical company’s stock worth $537,000 after buying an additional 508,989 shares in the last quarter. Sei Investments Co. purchased a new stake in Amarin in the fourth quarter worth approximately $116,000. Finally, New York State Common Retirement Fund purchased a new stake in Amarin in the fourth quarter worth approximately $68,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.