Amarin (NASDAQ:AMRN) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Amarin Corporation PLC (NASDAQ:AMRN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.50 and traded as high as $15.20. Amarin shares last traded at $14.97, with a volume of 38,257 shares.

Wall Street Analysts Forecast Growth

AMRN has been the subject of several research analyst reports. The Goldman Sachs Group lifted their target price on shares of Amarin from $7.00 to $12.00 and gave the stock a “sell” rating in a report on Wednesday, June 25th. Wall Street Zen upgraded shares of Amarin from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, Zacks Research cut shares of Amarin from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 25th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $12.00.

Amarin Trading Down 0.1%

The firm’s 50-day moving average price is $15.51 and its 200 day moving average price is $12.50. The company has a market capitalization of $309.58 million, a price-to-earnings ratio of -4.08 and a beta of 0.77.

Amarin (NASDAQ:AMRN) last issued its earnings results on Wednesday, July 30th. The biopharmaceutical company reported ($0.03) EPS 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 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 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amarin

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC grew its holdings in shares of Amarin by 112.3% during the 1st quarter. Acadian Asset Management LLC now owns 3,791,515 shares of the biopharmaceutical company’s stock valued at $1,685,000 after purchasing an additional 2,005,713 shares during the last quarter. Waterfront Wealth Inc. grew its holdings in Amarin by 1.3% during the 1st quarter. Waterfront Wealth Inc. now owns 2,514,615 shares of the biopharmaceutical company’s stock worth $1,127,000 after acquiring an additional 32,849 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Amarin by 449,522.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company’s stock worth $815,000 after acquiring an additional 1,811,574 shares during the last quarter. BNP Paribas Financial Markets grew its holdings 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 grew its holdings in Amarin by 2.4% during the 1st quarter. LCM Capital Management Inc now owns 858,259 shares of the biopharmaceutical company’s stock worth $385,000 after acquiring an additional 20,000 shares during the last quarter. 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.