Amarin (NASDAQ:AMRN) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Amarin Co. plc (NASDAQ:AMRN) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.23 and traded as high as $11.34. Amarin shares last traded at $11.11, with a volume of 30,664 shares changing hands.

Analysts Set New Price Targets

Several analysts have issued reports on AMRN shares. Wall Street Zen raised Amarin from a “sell” rating to a “hold” rating in a research report on Thursday, May 8th. The Goldman Sachs Group dropped their target price on Amarin from $20.00 to $7.00 and set a “sell” rating on the stock in a research note on Thursday, April 17th.

Amarin Stock Performance

The company has a 50 day moving average of $9.79 and a two-hundred day moving average of $10.23. The stock has a market capitalization of $230.08 million, a PE ratio of -123.44 and a beta of 0.66.

Amarin (NASDAQ:AMRN) last posted its quarterly earnings results 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%. As a group, research analysts predict that Amarin Co. plc will post -0.15 EPS for the current fiscal year.

Institutional Trading of Amarin

Several large investors have recently added to or reduced their stakes in AMRN. Acadian Asset Management LLC grew its stake in 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. Jones Financial Companies Lllp grew its stake 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 valued at $815,000 after purchasing an additional 1,811,574 shares during the last quarter. Waterfront Wealth Inc. grew its stake in Amarin by 181.4% during the 4th quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock valued at $1,204,000 after purchasing an additional 1,599,956 shares during the last quarter. AXA S.A. purchased a new stake in Amarin during the 4th quarter valued at about $480,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Amarin in the 4th quarter valued at about $343,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.