Amarin (NASDAQ:AMRN) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Amarin Co. plc (NASDAQ:AMRN)’s share price 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 traded.

Analysts Set New Price Targets

Several research firms have recently issued reports on AMRN. The Goldman Sachs Group decreased their target price on Amarin from $20.00 to $7.00 and set a “sell” rating for the company in a research report on Thursday, April 17th. StockNews.com upgraded Amarin from a “sell” rating to a “hold” rating in a research report on Thursday, May 8th.

Amarin Stock Performance

The company has a 50-day moving average of $9.49 and a 200-day moving average of $10.28. The firm has a market capitalization of $217.86 million, a price-to-earnings ratio of -116.89 and a beta of 0.66.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) 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%. As a group, analysts anticipate that Amarin Co. plc will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Amarin

Several institutional investors and hedge funds have recently modified their holdings of AMRN. Waterfront Wealth Inc. lifted its stake in Amarin by 181.4% in the 4th quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock valued at $1,204,000 after acquiring an additional 1,599,956 shares in the last quarter. AXA S.A. bought a new stake in Amarin in the 4th quarter valued at approximately $480,000. Raymond James Financial Inc. bought a new stake in Amarin in the 4th quarter valued at approximately $343,000. Stonepine Capital Management LLC lifted its stake in Amarin by 470.3% in the 1st quarter. Stonepine Capital Management LLC now owns 651,614 shares of the biopharmaceutical company’s stock valued at $293,000 after acquiring an additional 537,357 shares in the last quarter. Finally, Quinn Opportunity Partners LLC lifted its stake in Amarin by 85.2% in the 4th quarter. Quinn Opportunity Partners LLC now owns 1,106,539 shares of the biopharmaceutical company’s stock valued at $537,000 after acquiring an additional 508,989 shares in the last quarter. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.