Amarin (NASDAQ:AMRN) Shares Pass Above 200-Day Moving Average – Should You Sell?

Amarin Corporation PLC (NASDAQ:AMRN)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $15.71 and traded as high as $15.77. Amarin shares last traded at $15.42, with a volume of 30,669 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AMRN shares. Zacks Research raised Amarin from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Amarin in a research note on Wednesday, January 21st. Finally, Wall Street Zen downgraded shares of Amarin from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Sell” and an average target price of $12.00.

Amarin Stock Up 0.5%

The firm has a market cap of $320.74 million, a price-to-earnings ratio of -171.33 and a beta of 0.86. The business has a 50 day moving average of $15.08 and a 200 day moving average of $15.71.

Amarin (NASDAQ:AMRN) last released its earnings results on Wednesday, February 25th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.27) by $1.28. The company had revenue of $49.22 million for the quarter, compared to analyst estimates of $50.62 million. Amarin had a negative net margin of 18.16% and a negative return on equity of 5.46%. Research analysts predict that Amarin Corporation PLC will post -0.15 earnings per share for the current year.

Institutional Trading of Amarin

Hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd purchased a new position in shares of Amarin during the 4th quarter worth $239,000. Millennium Management LLC boosted its holdings in shares of Amarin by 25.6% during the fourth quarter. Millennium Management LLC now owns 166,235 shares of the biopharmaceutical company’s stock worth $2,320,000 after purchasing an additional 33,844 shares during the last quarter. Eversept Partners LP grew its position in shares of Amarin by 2.9% in the fourth quarter. Eversept Partners LP now owns 172,188 shares of the biopharmaceutical company’s stock valued at $2,403,000 after purchasing an additional 4,912 shares during the period. Jump Financial LLC increased its stake in Amarin by 38.7% in the fourth quarter. Jump Financial LLC now owns 26,900 shares of the biopharmaceutical company’s stock valued at $375,000 after purchasing an additional 7,500 shares during the last quarter. Finally, Brooklands Fund Management Ltd acquired a new position in Amarin in the fourth quarter valued at $42,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

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.