Amarin (NASDAQ:AMRN) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Amarin Corporation PLC (NASDAQ:AMRN)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.76 and traded as high as $15.54. Amarin shares last traded at $15.24, with a volume of 76,193 shares changing hands.

Analyst Ratings Changes

AMRN has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amarin in a research report on Monday, April 20th. Wall Street Zen downgraded shares of Amarin from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Zacks Research downgraded Amarin from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Sell” and an average price target of $12.00.

Amarin Stock Performance

The business has a 50-day moving average of $14.55 and a 200-day moving average of $14.76. The stock has a market capitalization of $319.58 million, a price-to-earnings ratio of -23.45 and a beta of 0.82.

Hedge Funds Weigh In On Amarin

Several institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp grew its position in Amarin by 449,522.1% in the 1st 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. Waterfront Wealth Inc. grew its stake in shares of Amarin by 42.7% in the first quarter. Waterfront Wealth Inc. now owns 203,338 shares of the biopharmaceutical company’s stock worth $2,940,000 after acquiring an additional 60,798 shares in the last quarter. Eversept Partners LP grew its stake in shares of Amarin by 2.9% in the fourth quarter. Eversept Partners LP now owns 172,188 shares of the biopharmaceutical company’s stock worth $2,403,000 after acquiring an additional 4,912 shares in the last quarter. Millennium Management LLC grew its stake in shares of Amarin by 25.6% in the fourth quarter. Millennium Management LLC now owns 166,235 shares of the biopharmaceutical company’s stock worth $2,320,000 after acquiring an additional 33,844 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Amarin by 15.0% in the third quarter. BNP Paribas Financial Markets now owns 87,366 shares of the biopharmaceutical company’s stock worth $1,431,000 after acquiring an additional 11,425 shares in the last quarter. 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.