Amarin (NASDAQ:AMRN) Stock Passes Above 200-Day Moving Average - What's Next?

Key Points

• Amarin Corporation PLC's stock has crossed above its 200-day moving average, reaching a high of $20.00 before closing at $19.97.
• Wall Street analysts are mixed on Amarin, with ratings ranging from "buy" to "sell," and an average consensus price target of $12.00.
• The company reported a revenue of $72.74 million in its last earnings call, significantly exceeding analyst expectations of $45.45 million.

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 $13.71 and traded as high as $20.00. Amarin shares last traded at $19.97, with a volume of 70,455 shares traded.

Wall Street Analysts Forecast Growth

AMRN has been the subject of a number of research reports. Wall Street Zen raised shares of Amarin from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Amarin in a research report on Wednesday, October 8th. Zacks Research cut Amarin from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Finally, The Goldman Sachs Group upped their price objective on Amarin from $7.00 to $12.00 and gave the stock a "sell" rating in a report on Wednesday, June 25th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Amarin presently has an average rating of "Sell" and a consensus price target of $12.00.

Amarin Stock Up 3.4%

The firm's 50-day simple moving average is $16.07 and its 200-day simple moving average is $13.71. The firm has a market capitalization of $412.98 million, a PE ratio of -5.44 and a beta of 0.62.

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

Institutional Investors Weigh In On Amarin

Institutional investors have recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC purchased a new stake in Amarin during the 2nd quarter valued at $32,000. Headlands Technologies LLC purchased a new stake in shares of Amarin during the second quarter worth about $44,000. George Kaiser Family Foundation purchased a new stake in shares of Amarin during the second quarter worth about $620,000. Jump Financial LLC purchased a new stake in shares of Amarin during the second quarter worth about $623,000. Finally, Banque Cantonale Vaudoise purchased a new stake in Amarin in the 1st quarter worth approximately $25,000. 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.

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