Amarin (NASDAQ:AMRN) Stock Price Passes Above Two Hundred 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 traded.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reissued an “overweight” rating on shares of Amarin in a research note on Friday, January 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Amarin has an average rating of “Hold” and a consensus target price of $1.08.

Amarin Price Performance

The stock has a market capitalization of $377.24 million, a P/E ratio of -6.56 and a beta of 1.98. The firm’s 50 day moving average price is $1.03 and its 200 day moving average price is $0.93.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.04. The firm had revenue of $74.71 million during the quarter, compared to the consensus estimate of $72.46 million. Amarin had a negative net margin of 19.26% and a negative return on equity of 10.47%. On average, equities research analysts forecast that Amarin Co. plc will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On Amarin

Several hedge funds and other institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its position in shares of Amarin by 351.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 44,599 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 34,725 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Amarin by 16.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,498 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 17,613 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Amarin by 35.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 649,152 shares of the biopharmaceutical company’s stock valued at $597,000 after buying an additional 170,670 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Amarin by 18.9% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 129,200 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 20,500 shares during the period. Finally, Hayek Kallen Investment Management increased its position in shares of Amarin by 83.6% during the third quarter. Hayek Kallen Investment Management now owns 622,643 shares of the biopharmaceutical company’s stock valued at $573,000 after buying an additional 283,564 shares during the period. 22.25% of the stock is owned by institutional investors.

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.