Amarin (NASDAQ:AMRN) Stock 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) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AMRN. The Goldman Sachs Group boosted their target price on Amarin from $7.00 to $12.00 and gave the company a "sell" rating in a research note on Wednesday, June 25th. Wall Street Zen raised shares of Amarin from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Zacks Research lowered shares of Amarin from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Amarin has an average rating of "Reduce" and a consensus target price of $12.00.

Amarin Stock Down 3.0%

The stock has a market capitalization of $307.51 million, a PE ratio of -4.05 and a beta of 0.77. The business's fifty day moving average is $15.63 and its 200-day moving average is $12.42.

Amarin (NASDAQ:AMRN - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.66) by $0.63. Amarin had a negative net margin of 47.22% and a negative return on equity of 21.18%. The business had revenue of $72.74 million for the quarter, compared to analysts' expectations of $45.45 million. As a group, sell-side 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 modified their holdings of the company. Acadian Asset Management LLC grew its holdings in shares of Amarin by 112.3% during the first quarter. Acadian Asset Management LLC now owns 3,791,515 shares of the biopharmaceutical company's stock worth $1,685,000 after purchasing an additional 2,005,713 shares during the last quarter. 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 raised its holdings in shares of 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 valued at $815,000 after acquiring an additional 1,811,574 shares in the last quarter. BNP Paribas Financial Markets grew its position in Amarin by 3.0% during the 4th quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company's stock worth $650,000 after acquiring an additional 39,452 shares during the last quarter. Finally, LCM Capital Management Inc boosted its position in shares of Amarin by 2.4% during 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 in the last quarter. 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.