Amarin (NASDAQ:AMRN) Share Price Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Amarin's stock price recently crossed above its 200-day moving average, trading at $15.04, significantly higher than the average of $12.37.
• Analyst ratings for Amarin vary, with Zacks downgrading it to a "hold" while Wall Street Zen upgraded it to a "buy"; the average target price is currently $12.00.
• The company's last earnings report indicated a positive revenue surprise, with reported earnings per share of ($0.03) against a consensus estimate of ($0.66).

Shares of Amarin Corporation PLC (NASDAQ:AMRN - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.37 and traded as high as $15.48. Amarin shares last traded at $15.04, with a volume of 46,346 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AMRN shares. Zacks Research cut Amarin from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. The Goldman Sachs Group boosted 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. Finally, Wall Street Zen upgraded Amarin from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $12.00.

Amarin Trading Up 3.0%

The firm has a market capitalization of $314.75 million, a price-to-earnings ratio of -4.15 and a beta of 0.77. The company has a fifty day moving average price of $15.57 and a two-hundred day moving average price of $12.46.

Amarin (NASDAQ:AMRN - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.63. The firm had revenue of $72.74 million for the quarter, compared to analyst estimates of $45.45 million. Amarin had a negative net margin of 47.22% and a negative return on equity of 21.18%. As a group, equities research analysts expect that Amarin Corporation PLC will post -0.15 earnings per share for the current year.

Institutional Trading of Amarin

Several institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC raised its position in shares of Amarin by 112.3% during 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. raised its position in Amarin by 1.3% in the first quarter. Waterfront Wealth Inc. now owns 2,514,615 shares of the biopharmaceutical company's stock valued at $1,127,000 after purchasing an additional 32,849 shares during the period. Jones Financial Companies Lllp raised its position in 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 valued at $815,000 after purchasing an additional 1,811,574 shares during the period. BNP Paribas Financial Markets raised its position 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 purchasing an additional 39,452 shares during the period. Finally, LCM Capital Management Inc raised its position in Amarin by 2.4% in the first 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 period. Hedge funds and other institutional investors 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.