Amarin (NASDAQ:AMRN) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Amarin Co. plc (NASDAQ:AMRN) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.38 and traded as high as $13.81. Amarin shares last traded at $13.25, with a volume of 119,927 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wall Street Zen raised Amarin from a “sell” rating to a “hold” rating in a research note on Thursday, May 8th. The Goldman Sachs Group lowered their target price on Amarin from $20.00 to $7.00 and set a “sell” rating for the company in a research note on Thursday, April 17th.

Amarin Stock Performance

The firm has a market capitalization of $274.37 million, a P/E ratio of -147.22 and a beta of 0.71. The company has a 50-day moving average price of $10.78 and a 200-day moving average price of $10.38.

Amarin (NASDAQ:AMRN) last posted its earnings results on Wednesday, May 7th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. Equities analysts predict that Amarin Co. plc will post -0.15 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund bought a new position in Amarin during the fourth quarter worth about $68,000. Waterfront Wealth Inc. lifted its holdings in shares of Amarin by 181.4% in the fourth quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock valued at $1,204,000 after purchasing an additional 1,599,956 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Amarin by 3.0% in the fourth quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company’s stock valued at $650,000 after purchasing an additional 39,452 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Amarin in the fourth quarter valued at about $171,000. Finally, Stonepine Capital Management LLC bought a new stake in shares of Amarin in the fourth quarter valued at about $55,000. 22.25% of the stock is currently owned by institutional investors.

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.