Amarin (NASDAQ:AMRN) Shares Cross Above 200-Day Moving Average – What’s Next?

Amarin Corporation PLC (NASDAQ:AMRN) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $15.71 and traded as high as $15.77. Amarin shares last traded at $15.42, with a volume of 30,669 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently commented on AMRN shares. Wall Street Zen downgraded Amarin from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Amarin in a research report on Wednesday, January 21st. Finally, Zacks Research upgraded Amarin from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Amarin presently has an average rating of “Sell” and a consensus price target of $12.00.

Amarin Trading Down 3.7%

The firm has a market cap of $310.75 million, a PE ratio of -166.00 and a beta of 0.86. The stock’s 50 day moving average price is $15.13 and its 200 day moving average price is $15.70.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings results on Wednesday, February 25th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.27) by $1.28. The firm had revenue of $49.22 million during the quarter, compared to the consensus estimate of $50.62 million. Amarin had a negative return on equity of 5.46% and a negative net margin of 18.16%. Analysts forecast that Amarin Corporation PLC will post -0.15 earnings per share for the current year.

Hedge Funds Weigh In On Amarin

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp grew its position in Amarin by 449,522.1% in the first quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company’s stock valued at $815,000 after acquiring an additional 1,811,574 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Amarin in the second quarter valued at $623,000. George Kaiser Family Foundation acquired a new stake in Amarin during the 2nd quarter valued at $620,000. Headlands Technologies LLC acquired a new stake in Amarin during the 2nd quarter valued at $44,000. Finally, State of New Jersey Common Pension Fund D purchased a new stake in Amarin during the 3rd quarter worth $309,000. 22.25% of the stock is owned by institutional investors and hedge funds.

Amarin Company Profile

Amarin Corporation plc is a biopharmaceutical company focused on the commercialization and development of therapeutics for cardiovascular health. Founded in 1993 and headquartered in Dublin, Ireland, the company is publicly traded on the NASDAQ under the ticker AMRN. Amarin’s primary mission is to improve cardiovascular outcomes through innovative lipid science and evidence-based therapies.

The company’s flagship product is Vascepa® (icosapent ethyl), a high-purity prescription omega-3 fatty acid approved for the treatment of severe hypertriglyceridemia and as an adjunct to statin therapy to reduce the risk of cardiovascular events.