Amarin (NASDAQ:AMRN) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• Amarin stock (NASDAQ: AMRN) has recently crossed above its 200-day moving average, with a current trading price of $14.90 and a high of $15.03 during the day.
• Research analysts have differing opinions on the stock, with Goldman Sachs increasing its price target to $12.00 while Wall Street Zen upgraded Amarin from a "hold" to a "buy" rating.
• The company reported earnings of ($0.03) per share for the last quarter, surpassing analysts’ expectations significantly, and had a revenue of $72.74 million, indicating potential growth.

Amarin Corporation PLC (NASDAQ:AMRN - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $11.92 and traded as high as $15.03. Amarin shares last traded at $14.90, with a volume of 97,938 shares.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AMRN shares. Wall Street Zen upgraded shares of Amarin from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. The Goldman Sachs Group lifted their price target on shares of Amarin from $7.00 to $12.00 and gave the stock a "sell" rating in a report on Wednesday, June 25th.

Amarin Price Performance

The firm has a market cap of $324.06 million, a price-to-earnings ratio of -4.26 and a beta of 0.84. The firm's fifty day moving average is $15.14 and its 200-day moving average is $12.00.

Amarin (NASDAQ:AMRN - Get Free Report) last released its earnings results on Wednesday, July 30th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.63. The business 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 anticipate that Amarin Corporation PLC will post -0.15 EPS 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 business. GPS Wealth Strategies Group LLC bought a new stake in Amarin in the 2nd quarter worth about $32,000. Headlands Technologies LLC bought a new stake in Amarin in the 2nd quarter worth about $44,000. George Kaiser Family Foundation bought a new stake in Amarin in the 2nd quarter worth about $620,000. Jump Financial LLC bought a new stake in Amarin in the 2nd quarter worth about $623,000. Finally, Banque Cantonale Vaudoise bought a new stake in Amarin in the 1st quarter worth about $25,000. 22.25% of the stock is owned by institutional investors.

Amarin Company Profile

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.