Amarin (NASDAQ:AMRN) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Shares of Amarin Corporation PLC (NASDAQ:AMRN) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.94 and traded as high as $16.45. Amarin shares last traded at $16.21, with a volume of 101,758 shares changing hands.

Analyst Ratings Changes

AMRN has been the subject of several analyst reports. Zacks Research downgraded Amarin from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Wall Street Zen raised Amarin from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Amarin in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Sell” and an average target price of $12.00.

Amarin Trading Up 0.7%

The stock has a fifty day simple moving average of $16.96 and a two-hundred day simple moving average of $14.94. The company has a market cap of $335.27 million, a PE ratio of -6.51 and a beta of 0.68.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings results on Wednesday, October 29th. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.33). Amarin had a negative net margin of 38.01% and a negative return on equity of 16.31%. The company had revenue of $48.56 million during the quarter, compared to analysts’ expectations of $42.04 million. As a group, equities research analysts anticipate that Amarin Corporation PLC will post -0.15 EPS for the current fiscal year.

Institutional Trading of Amarin

Institutional investors and hedge funds have recently made changes to their positions in the stock. GPS Wealth Strategies Group LLC acquired a new stake in shares of Amarin during the 2nd quarter worth about $32,000. Headlands Technologies LLC acquired a new position in shares of Amarin in the second quarter valued at approximately $44,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Amarin during the third quarter valued at approximately $309,000. JPMorgan Chase & Co. lifted its stake in shares of Amarin by 534.2% during 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. Finally, George Kaiser Family Foundation acquired a new stake in Amarin during the second quarter worth approximately $620,000. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Amarin Company Profile

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.