Amarin (NASDAQ:AMRN) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Amarin Corporation PLC (NASDAQ:AMRN)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.76 and traded as high as $16.28. Amarin shares last traded at $15.92, with a volume of 105,805 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Zacks Research raised shares of Amarin from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Amarin in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Amarin Stock Performance

The company has a market capitalization of $345.38 million, a price-to-earnings ratio of -25.34 and a beta of 0.82. The firm has a 50-day simple moving average of $14.83 and a two-hundred day simple moving average of $14.77.

Institutional Investors Weigh In On Amarin

A number of hedge funds have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise purchased a new position in Amarin in the 3rd quarter valued at approximately $32,000. Headlands Technologies LLC purchased a new stake in shares of Amarin during the second quarter worth $44,000. Brooklands Fund Management Ltd acquired a new stake in shares of Amarin in the fourth quarter valued at $42,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Amarin by 1,816.7% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,750 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 5,450 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in Amarin by 56.8% in the fourth quarter. New York State Common Retirement Fund now owns 7,605 shares of the biopharmaceutical company’s stock valued at $106,000 after purchasing an additional 2,756 shares during the period. 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.