Amarin (NASDAQ:AMRN) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Amarin Corporation PLC (NASDAQ:AMRN) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $14.82 and traded as high as $15.00. Amarin shares last traded at $13.8060, with a volume of 296,303 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wall Street Zen lowered Amarin from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Amarin in a report on Monday, April 20th. Finally, Zacks Research lowered Amarin from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Sell” and a consensus price target of $12.00.

Amarin Stock Performance

The stock has a 50 day moving average of $14.52 and a two-hundred day moving average of $14.82. The stock has a market cap of $292.11 million, a PE ratio of -21.43 and a beta of 0.82.

Institutional Investors Weigh In On Amarin

A number of institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp boosted its position in Amarin by 449,522.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company’s stock worth $815,000 after acquiring an additional 1,811,574 shares during the period. Waterfront Wealth Inc. boosted its position in Amarin by 42.7% during the 1st quarter. Waterfront Wealth Inc. now owns 203,338 shares of the biopharmaceutical company’s stock worth $2,940,000 after acquiring an additional 60,798 shares during the period. Eversept Partners LP boosted its position in Amarin by 2.9% during the 4th quarter. Eversept Partners LP now owns 172,188 shares of the biopharmaceutical company’s stock worth $2,403,000 after acquiring an additional 4,912 shares during the period. Millennium Management LLC boosted its position in Amarin by 25.6% during the 4th quarter. Millennium Management LLC now owns 166,235 shares of the biopharmaceutical company’s stock worth $2,320,000 after acquiring an additional 33,844 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Amarin by 15.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 87,366 shares of the biopharmaceutical company’s stock worth $1,431,000 after acquiring an additional 11,425 shares during the period. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Amarin Company Profile

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.