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

Amarin Co. plc (NASDAQ:AMRN - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $10.28 and traded as high as $10.57. Amarin shares last traded at $10.52, with a volume of 65,233 shares trading hands.

Analyst Ratings Changes

AMRN has been the subject of several analyst reports. StockNews.com upgraded Amarin from a "sell" rating to a "hold" rating in a report on Thursday, May 8th. The Goldman Sachs Group dropped their price target on shares of Amarin from $20.00 to $7.00 and set a "sell" rating for the company in a research report on Thursday, April 17th.

Amarin Stock Up 3.0%

The company has a market cap of $225.73 million, a P/E ratio of -121.11 and a beta of 0.66. The business has a fifty day moving average of $9.51 and a 200 day moving average of $10.24.

Amarin (NASDAQ:AMRN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. On average, sell-side analysts anticipate that Amarin Co. plc will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Amarin

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp raised its position 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 worth $815,000 after purchasing an additional 1,811,574 shares during the last quarter. Stonepine Capital Management LLC raised its position in Amarin by 470.3% in the 1st 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 during the last quarter. LCM Capital Management Inc lifted its stake in Amarin by 2.4% during the 1st quarter. LCM Capital Management Inc now owns 858,259 shares of the biopharmaceutical company's stock valued at $385,000 after acquiring an additional 20,000 shares during the period. Banque Cantonale Vaudoise purchased a new stake in shares of Amarin during the 1st quarter valued at about $25,000. Finally, Kornitzer Capital Management Inc. KS grew its stake in shares of Amarin by 4.0% in the first quarter. Kornitzer Capital Management Inc. KS now owns 88,200 shares of the biopharmaceutical company's stock worth $40,000 after acquiring an additional 3,400 shares during the period. 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.