Amarin (NASDAQ:AMRN) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Amarin Corporation PLC (NASDAQ:AMRN) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $15.89 and traded as high as $16.53. Amarin shares last traded at $16.40, with a volume of 252,670 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMRN. Wall Street Zen lowered shares of Amarin from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amarin in a report on Wednesday, October 8th. Finally, Zacks Research downgraded Amarin from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Amarin currently has an average rating of “Sell” and an average price target of $12.00.

Amarin Price Performance

The stock’s 50-day moving average price is $15.08 and its 200 day moving average price is $15.89. The firm has a market cap of $340.96 million, a P/E ratio of -6.59 and a beta of 0.72.

Hedge Funds Weigh In On Amarin

Large investors have recently modified their holdings of the business. Jones Financial Companies Lllp increased its position in shares of 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 during the last quarter. Acadian Asset Management LLC grew its stake in Amarin by 112.3% in the first 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 in the last quarter. GPS Wealth Strategies Group LLC acquired a new position in shares of Amarin during the 2nd quarter worth approximately $32,000. Jump Financial LLC acquired a new position in shares of Amarin during the 2nd quarter worth approximately $623,000. Finally, George Kaiser Family Foundation bought a new stake in shares of Amarin during the 2nd quarter worth approximately $620,000. 22.25% of the stock is currently 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.