Amarin (NASDAQ:AMRN) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Amarin Corporation PLC (NASDAQ:AMRN) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.82 and traded as high as $15.00. Amarin shares last traded at $13.8060, with a volume of 296,303 shares.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Amarin in a research report on Monday, April 20th. Wall Street Zen cut Amarin from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Zacks Research lowered Amarin from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Sell” and a consensus target price of $12.00.

Amarin Stock Down 5.0%

The firm has a market capitalization of $289.51 million, a PE ratio of -21.24 and a beta of 0.82. The company’s fifty day simple moving average is $14.53 and its 200 day simple moving average is $14.82.

Institutional Trading of Amarin

A number of large investors have recently made changes to their positions in the stock. Waterfront Wealth Inc. boosted its position in Amarin by 82.8% in the fourth quarter. Waterfront Wealth Inc. now owns 142,540 shares of the biopharmaceutical company’s stock worth $1,990,000 after purchasing an additional 64,580 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Amarin by 534.2% in the third quarter. JPMorgan Chase & Co. now owns 21,754 shares of the biopharmaceutical company’s stock worth $356,000 after purchasing an additional 18,324 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Amarin during the third quarter valued at about $309,000. EntryPoint Capital LLC purchased a new position in Amarin in the 4th quarter worth approximately $175,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Amarin by 34.8% in the fourth quarter. Wells Fargo & Company MN now owns 9,254 shares of the biopharmaceutical company’s stock worth $129,000 after buying an additional 2,390 shares in the last quarter. 22.25% of the stock is currently owned by institutional investors.

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.