Amarin (NASDAQ:AMRN) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Amarin Corporation PLC (NASDAQ:AMRN)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.84 and traded as high as $16.01. Amarin shares last traded at $15.46, with a volume of 66,474 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AMRN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amarin in a research report on Monday, April 20th. Zacks Research raised Amarin from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 16th. One 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 has a consensus rating of “Moderate Buy”.

Amarin Stock Down 0.3%

The firm’s 50-day moving average price is $15.01 and its 200 day moving average price is $14.85. The firm has a market cap of $317.05 million, a P/E ratio of -23.26 and a beta of 0.80.

Institutional Investors Weigh In On Amarin

Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Amarin by 197.4% during the second quarter. GAMMA Investing LLC now owns 1,576 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 1,046 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Amarin in the 1st quarter valued at approximately $278,000. Waterfront Wealth Inc. increased its position in Amarin by 42.7% in the 1st quarter. Waterfront Wealth Inc. now owns 203,338 shares of the biopharmaceutical company’s stock valued at $2,940,000 after acquiring an additional 60,798 shares during the period. XTX Topco Ltd bought a new stake in Amarin during the 4th quarter valued at $239,000. Finally, Millennium Management LLC raised its stake in Amarin by 25.6% during the 4th quarter. Millennium Management LLC now owns 166,235 shares of the biopharmaceutical company’s stock valued at $2,320,000 after acquiring an additional 33,844 shares in the last quarter. Institutional investors and hedge funds own 22.25% of the company’s stock.

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.