Amarin (NASDAQ:AMRN) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?
Amarin Corporation's stock price crossed above its 200-day moving average, trading as high as $16.71. Analysts have mixed ratings: Wall Street Zen upgraded to "strong-buy," Weiss Ratings reiterated "sell," and Zacks Research downgraded to "hold." The stock has a market cap of $340.59 million and a negative P/E ratio. Institutional investors have adjusted their stakes, with 22.25% owned by hedge funds. Amarin offers VASCEPA for cardiovascular treatment. Despite the stock's "sell" rating, analysts suggest other stocks as better investments.
Amarin Corporation PLC (NASDAQ:AMRN - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $15.19 and traded as high as $16.71. Amarin shares last traded at $16.38, with a volume of 63,935 shares traded.
Analyst Upgrades and Downgrades
- 3 Biotech Stocks Gaining Momentum
Several brokerages have recently weighed in on AMRN. 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 reiterated a "sell (d-)" rating on shares of Amarin in a research report on Wednesday, October 8th. Finally, Zacks Research lowered Amarin from a "strong-buy" rating to a "hold" rating in a 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.com, the company has an average rating of "Sell" and a consensus price target of $12.00.
Read Our Latest Report on AMRN
Amarin Stock Performance
- Are Ocugen or Amarin Good Penny Stocks to Buy?
The company's 50-day moving average price is $17.16 and its 200 day moving average price is $15.19. The stock has a market capitalization of $340.59 million, a P/E ratio of -6.58 and a beta of 0.68.
Amarin (NASDAQ:AMRN - Get Free Report) last issued its earnings results on Wednesday, October 29th. The biopharmaceutical company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.33). The firm had revenue of $48.56 million during the quarter, compared to the consensus estimate of $42.04 million. Amarin had a negative return on equity of 16.31% and a negative net margin of 38.01%. Analysts predict that Amarin Corporation PLC will post -0.15 earnings per share for the current year.
Institutional Inflows and Outflows
- Does Amarin Deserve a Spot in Your Portfolio after Earnings ?
Large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised 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 valued at $1,685,000 after buying an additional 2,005,713 shares during the last quarter. LCM Capital Management Inc boosted its position in shares of Amarin by 2.4% during the first quarter. LCM Capital Management Inc now owns 858,259 shares of the biopharmaceutical company's stock worth $385,000 after acquiring an additional 20,000 shares during the last quarter. Stonepine Capital Management LLC grew its stake in Amarin by 470.3% during the first quarter. Stonepine Capital Management LLC now owns 651,614 shares of the biopharmaceutical company's stock valued at $293,000 after acquiring an additional 537,357 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Amarin in the 1st quarter valued at $25,000. Finally, Ameriprise Financial Inc. lifted its stake in Amarin by 13.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 17,376 shares of the biopharmaceutical company's stock worth $285,000 after purchasing an additional 2,008 shares in the last quarter. 22.25% of the stock is owned by hedge funds and other institutional investors.
Amarin Company Profile
(Get Free Report)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.
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