Amarin (NASDAQ:AMRN) Stock Passes Above 200 Day Moving Average – Here’s Why
by Renee Jackson · The Cerbat GemAmarin Corporation PLC (NASDAQ:AMRN – Get Free Report)’s stock price passed 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 traded.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the company. Zacks Research downgraded Amarin from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Wall Street Zen downgraded Amarin from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Weiss Ratings reissued 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 Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Sell” and an average target price of $12.00.
View Our Latest Stock Analysis on Amarin
Amarin Price Performance
The stock’s 50-day moving average is $14.55 and its 200 day moving average is $14.76. The stock has a market cap of $319.58 million, a price-to-earnings ratio of -23.45 and a beta of 0.82.
Institutional Investors Weigh In On Amarin
Hedge funds and other institutional investors have recently modified their holdings of the stock. Two Sigma Investments LP increased its holdings in Amarin by 1.8% in the 3rd quarter. Two Sigma Investments LP now owns 60,071 shares of the biopharmaceutical company’s stock valued at $984,000 after purchasing an additional 1,047 shares in the last quarter. Sei Investments Co. grew its position in Amarin by 4.7% in the third quarter. Sei Investments Co. now owns 29,212 shares of the biopharmaceutical company’s stock valued at $478,000 after acquiring an additional 1,299 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Amarin in the third quarter valued at approximately $32,000. Ameriprise Financial Inc. grew its position in Amarin by 13.1% in the third 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 in the last quarter. Finally, Wells Fargo & Company MN grew its position in Amarin by 34.8% in the fourth quarter. Wells Fargo & Company MN now owns 9,254 shares of the biopharmaceutical company’s stock valued at $129,000 after acquiring an additional 2,390 shares in the last quarter. 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.