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

Amarin Corporation PLC (NASDAQ:AMRN) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $14.94 and traded as high as $16.45. Amarin shares last traded at $16.21, with a volume of 101,758 shares changing hands.

Analysts Set New Price Targets

AMRN has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Amarin from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amarin in a report on Wednesday, October 8th. Finally, Zacks Research cut Amarin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Sell” and an average target price of $12.00.

Amarin Trading Up 0.7%

The stock has a market capitalization of $335.27 million, a price-to-earnings ratio of -6.51 and a beta of 0.68. The company’s 50 day moving average is $16.96 and its 200 day moving average is $14.94.

Amarin (NASDAQ:AMRN) last released its quarterly earnings data on Wednesday, October 29th. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.33). The company had revenue of $48.56 million during the quarter, compared to analyst estimates of $42.04 million. Amarin had a negative net margin of 38.01% and a negative return on equity of 16.31%. Analysts anticipate that Amarin Corporation PLC will post -0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Amarin

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its position in shares of Amarin by 112.3% during the first quarter. Acadian Asset Management LLC now owns 3,791,515 shares of the biopharmaceutical company’s stock worth $1,685,000 after acquiring an additional 2,005,713 shares during the last quarter. LCM Capital Management Inc raised its position in Amarin by 2.4% in the 1st quarter. LCM Capital Management Inc now owns 858,259 shares of the biopharmaceutical company’s stock valued at $385,000 after purchasing an additional 20,000 shares during the last quarter. Stonepine Capital Management LLC boosted its stake in Amarin by 470.3% during the 1st quarter. Stonepine Capital Management LLC now owns 651,614 shares of the biopharmaceutical company’s stock worth $293,000 after purchasing an additional 537,357 shares during the period. Kornitzer Capital Management Inc. KS boosted its stake in Amarin by 4.0% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 88,200 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 3,400 shares during the period. Finally, Jones Financial Companies Lllp grew its position in Amarin by 449,522.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company’s stock worth $815,000 after purchasing an additional 1,811,574 shares during the last quarter. Hedge funds and other institutional investors own 22.25% of the company’s stock.

About Amarin

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.