Amarin (NASDAQ:AMRN) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Amarin Corporation PLC (NASDAQ:AMRN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.04 and traded as high as $15.21. Amarin shares last traded at $14.78, with a volume of 44,651 shares changing hands.

Wall Street Analyst Weigh In

AMRN has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amarin in a research report on Monday, April 20th. Zacks Research raised Amarin from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Finally, Wall Street Zen lowered Amarin from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, Amarin presently has an average rating of “Hold” and an average price target of $12.00.

Amarin Trading Down 1.5%

The firm has a market capitalization of $305.32 million, a P/E ratio of -22.40 and a beta of 0.81. The company has a 50-day moving average of $14.74 and a 200-day moving average of $15.04.

Amarin (NASDAQ:AMRN) last announced its earnings results on Wednesday, February 25th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.27) by $1.28. The business had revenue of $49.22 million during the quarter, compared to analyst estimates of $50.62 million. Amarin had a negative return on equity of 2.99% and a negative net margin of 15.51%. Research analysts predict that Amarin Corporation PLC will post -7.04 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Waterfront Wealth Inc. lifted its stake in shares of Amarin by 82.8% in the 4th quarter. Waterfront Wealth Inc. now owns 142,540 shares of the biopharmaceutical company’s stock valued at $1,990,000 after purchasing an additional 64,580 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Amarin by 534.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 21,754 shares of the biopharmaceutical company’s stock valued at $356,000 after purchasing an additional 18,324 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Amarin by 1,816.7% in the 3rd 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 during the period. EntryPoint Capital LLC acquired a new position in shares of Amarin in the 4th quarter valued at about $175,000. Finally, XTX Topco Ltd acquired a new position in shares of Amarin in the 4th quarter valued at about $239,000. 22.25% of the stock is owned by institutional investors and hedge funds.

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.