Amarin (NASDAQ:AMRN) Stock Passes Above 200 Day Moving Average - Time to Sell?

Shares of Amarin Corporation PLC (NASDAQ:AMRN - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.52 and traded as high as $12.74. Amarin shares last traded at $12.60, with a volume of 62,500 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wall Street Zen upgraded Amarin from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th. The Goldman Sachs Group lifted 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.

Amarin Trading Down 1.2%

The stock has a fifty day moving average of $11.66 and a two-hundred day moving average of $10.64. The stock has a market capitalization of $325.35 million, a price-to-earnings ratio of -4.32 and a beta of 0.71.

Amarin (NASDAQ:AMRN - Get Free Report) last announced its earnings results on Wednesday, May 7th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect that Amarin Corporation PLC will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On Amarin

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Kornitzer Capital Management Inc. KS boosted its holdings in Amarin by 4.0% in the first quarter. Kornitzer Capital Management Inc. KS now owns 88,200 shares of the biopharmaceutical company's stock valued at $40,000 after acquiring an additional 3,400 shares during the last quarter. LCM Capital Management Inc boosted its stake in shares of Amarin by 2.4% in the 1st quarter. LCM Capital Management Inc now owns 858,259 shares of the biopharmaceutical company's stock valued at $385,000 after purchasing an additional 20,000 shares during the last quarter. LPL Financial LLC grew its position in shares of Amarin by 26.0% during the 4th quarter. LPL Financial LLC now owns 153,020 shares of the biopharmaceutical company's stock worth $74,000 after buying an additional 31,555 shares during the period. Waterfront Wealth Inc. raised its stake in shares of Amarin by 1.3% during the first quarter. Waterfront Wealth Inc. now owns 2,514,615 shares of the biopharmaceutical company's stock worth $1,127,000 after buying an additional 32,849 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Amarin by 3.0% in the fourth quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company's stock valued at $650,000 after buying an additional 39,452 shares during the period. 22.25% of the stock is owned by institutional investors and hedge funds.

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.