Amarin (NASDAQ:AMRN) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Amarin Corporation PLC (NASDAQ:AMRN) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.76 and traded as high as $15.54. Amarin shares last traded at $15.24, with a volume of 76,193 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently weighed in on AMRN shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Amarin in a report on Monday, April 20th. Zacks Research downgraded Amarin from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, Wall Street Zen cut shares of Amarin from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Sell” and a consensus price target of $12.00.

Amarin Stock Up 2.3%

The company has a market cap of $319.58 million, a P/E ratio of -23.45 and a beta of 0.82. The stock has a 50 day moving average price of $14.55 and a two-hundred day moving average price of $14.76.

Hedge Funds Weigh In On Amarin

Hedge funds have recently bought and sold shares of the business. Waterfront Wealth Inc. increased its holdings in shares of Amarin by 82.8% during the fourth quarter. Waterfront Wealth Inc. now owns 142,540 shares of the biopharmaceutical company’s stock worth $1,990,000 after purchasing an additional 64,580 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Amarin by 534.2% in the third quarter. JPMorgan Chase & Co. now owns 21,754 shares of the biopharmaceutical company’s stock valued at $356,000 after buying an additional 18,324 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in shares of Amarin in the third quarter valued at approximately $309,000. XTX Topco Ltd acquired a new stake in Amarin during the fourth quarter worth approximately $239,000. Finally, Wells Fargo & Company MN grew its position in Amarin by 34.8% during the fourth quarter. Wells Fargo & Company MN now owns 9,254 shares of the biopharmaceutical company’s stock worth $129,000 after buying an additional 2,390 shares in the last quarter. 22.25% of the stock is owned by institutional investors.

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.