Amarin (NASDAQ:AMRN) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Amarin Corporation PLC (NASDAQ:AMRN - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.01 and traded as high as $17.30. Amarin shares last traded at $16.65, with a volume of 141,574 shares.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMRN. The Goldman Sachs Group increased their target price on Amarin from $7.00 to $12.00 and gave the stock a "sell" rating in a report on Wednesday, June 25th. Wall Street Zen upgraded Amarin from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th.

Amarin Price Performance

The business's 50 day moving average price is $12.91 and its 200-day moving average price is $11.15. The company has a market cap of $350.62 million, a P/E ratio of -4.65 and a beta of 0.82.

Amarin (NASDAQ:AMRN - Get Free Report) last posted its earnings results on Wednesday, May 7th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. Amarin had a negative net margin of 41.07% and a negative return on equity of 17.21%. As a group, research analysts forecast that Amarin Corporation PLC will post -0.15 EPS for the current year.

Hedge Funds Weigh In On Amarin

Several institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC grew its holdings in shares of Amarin by 112.3% in the 1st quarter. Acadian Asset Management LLC now owns 3,791,515 shares of the biopharmaceutical company's stock valued at $1,685,000 after buying an additional 2,005,713 shares during the period. Waterfront Wealth Inc. boosted its stake in Amarin by 1.3% in the 1st quarter. Waterfront Wealth Inc. now owns 2,514,615 shares of the biopharmaceutical company's stock worth $1,127,000 after purchasing an additional 32,849 shares during the period. Jones Financial Companies Lllp boosted its stake in Amarin by 449,522.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company's stock worth $815,000 after purchasing an additional 1,811,574 shares during the period. BNP Paribas Financial Markets boosted its stake in Amarin by 3.0% in the 4th quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company's stock worth $650,000 after purchasing an additional 39,452 shares during the period. Finally, Quinn Opportunity Partners LLC boosted its stake in Amarin by 85.2% in the 4th quarter. Quinn Opportunity Partners LLC now owns 1,106,539 shares of the biopharmaceutical company's stock worth $537,000 after purchasing an additional 508,989 shares during the period. Institutional investors and hedge funds 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.