Amarin (NASDAQ:AMRN) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Amarin Corporation PLC (NASDAQ:AMRN)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.84 and traded as high as $16.01. Amarin shares last traded at $15.46, with a volume of 66,474 shares.

Wall Street Analysts Forecast Growth

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

Amarin Stock Down 1.7%

The business’s 50-day moving average is $14.99 and its 200-day moving average is $14.84. The company has a market capitalization of $324.20 million, a price-to-earnings ratio of -23.78 and a beta of 0.80.

Institutional Investors Weigh In On Amarin

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in Amarin by 197.4% during the second quarter. GAMMA Investing LLC now owns 1,576 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 1,046 shares during the period. Two Sigma Investments LP lifted its position in shares of Amarin by 1.8% during the 3rd quarter. Two Sigma Investments LP now owns 60,071 shares of the biopharmaceutical company’s stock valued at $984,000 after buying an additional 1,047 shares in the last quarter. Sei Investments Co. lifted its position in shares of Amarin by 4.7% during the 3rd quarter. Sei Investments Co. now owns 29,212 shares of the biopharmaceutical company’s stock valued at $478,000 after buying an additional 1,299 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Amarin in the 3rd quarter valued at $32,000. Finally, Ameriprise Financial Inc. grew its stake in Amarin by 13.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 17,376 shares of the biopharmaceutical company’s stock valued at $285,000 after acquiring an additional 2,008 shares during the period. Hedge funds and other institutional investors own 22.25% of the company’s stock.

About Amarin

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.