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

Amarin Co. plc (NASDAQ:AMRN)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.33 and traded as high as $10.42. Amarin shares last traded at $10.23, with a volume of 152,158 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. The Goldman Sachs Group cut their price target on shares of Amarin from $20.00 to $7.00 and set a “sell” rating on the stock in a report on Thursday, April 17th. StockNews.com initiated coverage on Amarin in a report on Wednesday, April 16th. They issued a “sell” rating on the stock.

Amarin Trading Up 0.4 %

The company’s 50 day moving average is $9.47 and its 200 day moving average is $10.33. The company has a market cap of $211.85 million, a PE ratio of -113.67 and a beta of 0.66.

Amarin (NASDAQ:AMRN) last issued its earnings results on Wednesday, May 7th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. Analysts expect that Amarin Co. plc will post -0.15 EPS for the current year.

Hedge Funds Weigh In On Amarin

A number of large investors have recently made changes to their positions in the business. Arkfeld Wealth Strategies L.L.C. grew its stake in Amarin by 52.6% during the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 58,000 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 20,000 shares during the last quarter. LCM Capital Management Inc increased its holdings in Amarin by 3.1% in the 4th quarter. LCM Capital Management Inc now owns 838,259 shares of the biopharmaceutical company’s stock worth $407,000 after buying an additional 25,100 shares during the period. New York State Common Retirement Fund purchased a new position in Amarin during the 4th quarter worth approximately $68,000. Waterfront Wealth Inc. lifted its stake in Amarin by 181.4% during the 4th quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock valued at $1,204,000 after acquiring an additional 1,599,956 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Amarin in the 4th quarter valued at $343,000. 22.25% of the stock is owned by institutional investors and hedge funds.

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.