Amarin (NASDAQ:AMRN) Stock Price Passes Above Two Hundred Day Moving Average of $0.93

Amarin Co. plc (NASDAQ:AMRN)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.93 and traded as high as $0.97. Amarin shares last traded at $0.92, with a volume of 626,151 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Amarin in a report on Friday, January 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Amarin presently has a consensus rating of “Hold” and an average price target of $1.08.

Amarin Trading Down 4.0 %

The business’s 50-day moving average price is $1.03 and its 200-day moving average price is $0.93. The stock has a market cap of $377.24 million, a PE ratio of -6.56 and a beta of 1.98.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. Amarin had a negative net margin of 19.26% and a negative return on equity of 10.47%. The firm had revenue of $74.71 million for the quarter, compared to the consensus estimate of $72.46 million. As a group, analysts predict that Amarin Co. plc will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AMRN. Morgan Stanley grew its position in Amarin by 289.6% during the 4th quarter. Morgan Stanley now owns 22,027,895 shares of the biopharmaceutical company’s stock worth $26,654,000 after purchasing an additional 16,373,362 shares during the last quarter. Millennium Management LLC grew its position in Amarin by 292.2% during the 4th quarter. Millennium Management LLC now owns 6,923,801 shares of the biopharmaceutical company’s stock worth $8,378,000 after purchasing an additional 5,158,279 shares during the last quarter. Two Sigma Investments LP grew its position in Amarin by 33.5% during the 1st quarter. Two Sigma Investments LP now owns 5,560,983 shares of the biopharmaceutical company’s stock worth $8,341,000 after purchasing an additional 1,395,665 shares during the last quarter. Sarissa Capital Management LP grew its position in Amarin by 2.1% during the 1st quarter. Sarissa Capital Management LP now owns 4,910,000 shares of the biopharmaceutical company’s stock worth $7,365,000 after purchasing an additional 103,000 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in Amarin by 0.9% during the 1st quarter. Clearbridge Investments LLC now owns 4,789,575 shares of the biopharmaceutical company’s stock worth $15,758,000 after purchasing an additional 42,012 shares during the last quarter. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Amarin Company Profile

Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, European countries, Canada, Lebanon, and the United Arab Emirates. The company offers VASCEPA, a prescription-only omega-3 fatty acid product, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.