Amarin (NASDAQ:AMRN) Share Price Crosses Above 200-Day Moving Average - What's Next?

Amarin Corporation PLC (NASDAQ:AMRN - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 changing hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on AMRN. Wall Street Zen upgraded shares of Amarin from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th. The Goldman Sachs Group raised their price target on shares of Amarin from $7.00 to $12.00 and gave the company a "sell" rating in a report on Wednesday, June 25th.

Amarin Stock Performance

The company has a market cap of $344.82 million, a PE ratio of -4.57 and a beta of 0.82. The business's 50-day moving average is $12.52 and its 200 day moving average is $11.01.

Amarin (NASDAQ:AMRN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. Amarin had a negative net margin of 41.07% and a negative return on equity of 17.21%. Equities research analysts anticipate that Amarin Corporation PLC will post -0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Amarin

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC lifted its stake in shares of Amarin by 112.3% in the first quarter. Acadian Asset Management LLC now owns 3,791,515 shares of the biopharmaceutical company's stock worth $1,685,000 after buying an additional 2,005,713 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Amarin by 449,522.1% in the first quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company's stock worth $815,000 after buying an additional 1,811,574 shares in the last quarter. Stonepine Capital Management LLC lifted its stake in shares of Amarin by 470.3% in the first quarter. Stonepine Capital Management LLC now owns 651,614 shares of the biopharmaceutical company's stock worth $293,000 after buying an additional 537,357 shares in the last quarter. LCM Capital Management Inc lifted its stake in shares of Amarin by 2.4% in the first quarter. LCM Capital Management Inc now owns 858,259 shares of the biopharmaceutical company's stock worth $385,000 after buying an additional 20,000 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in shares of Amarin in the first quarter worth approximately $25,000. Hedge funds and other institutional investors own 22.25% of the company's stock.

Amarin Company Profile

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.

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