Amarin Corporation PLC (AMRN) : Traders are bullish on Amarin Corporation PLC (AMRN) as it has outperformed the S&P 500 by a wide margin of 33.95% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.96%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.93% in the last 1 week, and is up 34.47% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Amarin Corporation plc is up 83.72% in the last 3-month period. Year-to-Date the stock performance stands at 67.2%. The stock has recorded a 20-day Moving Average of 7.21% and the 50-Day Moving Average is 27.53%.
Amarin Corporation PLC (NASDAQ:AMRN): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $3.11 and $3.08 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $3.32. The buying momentum continued till the end and the stock did not give up its gains. It closed at $3.16, notching a gain of 2.27% for the day. The total traded volume was 4,233,722 . The stock had closed at $3.09 on the previous day.
Also, Jefferies initiates coverage on Amarin Corporation PLC (NASDAQ:AMRN) In a research note issued to the investors, the brokerage major announces price-target of $3.5 per share.The shares have been rated Buy. The rating by the firm was issued on May 12, 2016.
Amarin Corporation plc (Amarin) is a biopharmaceutical company. The Company is engaged in the commercialization and development of therapeutics for cardiovascular health. Amarins lead product, Vascepa (icosapent ethyl) capsules, are used as an adjunct to diet to reduce triglyceride levels in adult patients with severe (triglyceride or TG over 500 milligrams per deciliter) hypertriglyceridemia. The Company sells Vascepa principally to various wholesalers, as well as regional wholesalers and specialty pharmacy providers, who in turn resell Vascepa to retail pharmacies for resale to patients and healthcare providers. Vascepa is available in the United States by prescription only. Amarin is also developing Vascepa for the treatment of patients with high (TG over 200 milligrams per deciliter and less than 500 milligrams per deciliter) triglyceride levels who are also on statin therapy for elevated low-density lipoprotein cholesterol (LDL-C) levels.