Amarin (NASDAQ:AMRN) Shares Pass Above 200 Day Moving Average of $0.93

Amarin Co. plc (NASDAQ:AMRN)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.93 and traded as high as $0.97. Amarin shares last traded at $0.92, with a volume of 626,151 shares.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Amarin in a research report on Friday, January 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Amarin presently has a consensus rating of “Hold” and an average price target of $1.08.

Amarin Stock Performance

The stock’s fifty day moving average is $1.02 and its two-hundred day moving average is $0.93. The firm has a market cap of $376.63 million, a price-to-earnings ratio of -6.70 and a beta of 1.98.

Amarin (NASDAQ:AMRN) last released its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The business had revenue of $74.71 million for the quarter, compared to analysts’ expectations of $72.46 million. Amarin had a negative net margin of 19.26% and a negative return on equity of 10.47%. Sell-side analysts predict that Amarin Co. plc will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning boosted its holdings in shares of Amarin by 66.4% in the second quarter. Creative Planning now owns 17,285 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 6,900 shares during the period. UBS Group AG boosted its holdings in shares of Amarin by 0.8% during the second quarter. UBS Group AG now owns 887,084 shares of the biopharmaceutical company’s stock worth $1,322,000 after purchasing an additional 7,003 shares during the period. Lido Advisors LLC boosted its holdings in shares of Amarin by 23.7% during the first quarter. Lido Advisors LLC now owns 41,773 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 8,000 shares during the period. Bank of Montreal Can boosted its holdings in shares of Amarin by 39.1% during the second quarter. Bank of Montreal Can now owns 28,693 shares of the biopharmaceutical company’s stock worth $56,000 after purchasing an additional 8,068 shares during the period. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Amarin by 4.4% during the first quarter. Commonwealth Equity Services LLC now owns 198,854 shares of the biopharmaceutical company’s stock worth $298,000 after purchasing an additional 8,300 shares during the period. 22.25% of the stock is currently owned by institutional investors and hedge funds.

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.