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

Amarin Corporation PLC (NASDAQ:AMRN)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.76 and traded as high as $16.28. Amarin shares last traded at $15.92, with a volume of 105,805 shares.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Zacks Research raised shares of Amarin from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amarin in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Amarin Trading Up 0.1%

The firm’s fifty day moving average price is $14.81 and its 200-day moving average price is $14.76. The company has a market cap of $333.83 million, a P/E ratio of -24.49 and a beta of 0.82.

Hedge Funds Weigh In On Amarin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new position in Amarin in the 3rd quarter valued at approximately $32,000. Brooklands Fund Management Ltd bought a new stake in shares of Amarin in the 4th quarter worth approximately $42,000. Headlands Technologies LLC acquired a new stake in shares of Amarin during the 2nd quarter worth approximately $44,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Amarin by 1,816.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,750 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 5,450 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Amarin by 56.8% during the fourth quarter. New York State Common Retirement Fund now owns 7,605 shares of the biopharmaceutical company’s stock valued at $106,000 after purchasing an additional 2,756 shares during the period. 22.25% of the stock is currently owned by institutional investors.

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.