Amarin (NASDAQ:AMRN) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Amarin Corporation PLC (NASDAQ:AMRN) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.89 and traded as high as $16.53. Amarin shares last traded at $16.40, with a volume of 252,670 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently commented on AMRN. Zacks Research cut Amarin from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Wall Street Zen downgraded shares of Amarin from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Amarin in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Sell” and a consensus target price of $12.00.

Amarin Price Performance

The company’s 50-day moving average is $15.07 and its two-hundred day moving average is $15.91.

Institutional Investors Weigh In On Amarin

Institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC lifted its stake in Amarin by 112.3% during the 1st quarter. Acadian Asset Management LLC now owns 3,791,515 shares of the biopharmaceutical company’s stock valued at $1,685,000 after acquiring an additional 2,005,713 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Amarin by 449,522.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company’s stock worth $815,000 after acquiring an additional 1,811,574 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Amarin by 192.6% in the third quarter. Millennium Management LLC now owns 132,391 shares of the biopharmaceutical company’s stock valued at $2,169,000 after purchasing an additional 87,147 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Amarin by 15.0% during the third quarter. BNP Paribas Financial Markets now owns 87,366 shares of the biopharmaceutical company’s stock valued at $1,431,000 after purchasing an additional 11,425 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings in Amarin by 1.8% during the third quarter. Two Sigma Investments LP now owns 60,071 shares of the biopharmaceutical company’s stock worth $984,000 after purchasing an additional 1,047 shares during the last quarter. Institutional investors own 22.25% of the company’s stock.

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.