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

Amarin Corporation PLC (NASDAQ:AMRN)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.89 and traded as high as $16.53. Amarin shares last traded at $16.40, with a volume of 252,670 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Amarin in a research report on Wednesday, October 8th. Zacks Research cut shares of Amarin from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Finally, Wall Street Zen lowered shares of Amarin from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Sell” and an average target price of $12.00.

Amarin Stock Up 16.9%

The stock has a market cap of $340.96 million, a price-to-earnings ratio of -6.59 and a beta of 0.72. The stock’s fifty day moving average is $15.08 and its 200-day moving average is $15.89.

Institutional Trading of Amarin

Several hedge funds have recently added to or reduced their stakes in AMRN. GPS Wealth Strategies Group LLC bought a new position in Amarin during the second quarter worth about $32,000. Banque Cantonale Vaudoise acquired a new stake in shares of Amarin during the third quarter worth about $32,000. Headlands Technologies LLC bought a new position in shares of Amarin during the 2nd quarter valued at about $44,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Amarin by 1,816.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,750 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 5,450 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of 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 purchasing an additional 2,008 shares during the period. Institutional investors and hedge funds 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.