Amarin Corporation PLC (AMRN) Shares are Up 8.5%

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 9.84% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 8.32%, 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 8.5% in the last 1 week, and is up 9.25% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 8.93% and the 50-Day Moving Average is 8.4%.The 200 Day SMA reached 55.66%


Amarin Corporation PLC (NASDAQ:AMRN): After opening at $3.17, the stock dipped to an intraday low of $3.125 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $3.25 and the buying power remained strong till the end. The stock closed at $3.19 for the day, a gain of 1.92% for the day session. The total traded volume was 2,460,197. The stocks close on the previous trading day was $3.19.

Amarin Corporation PLC (AMRN) stock is expected to deviate a maximum of $2.84 from the average target price of $6.83 for the short term period. 3 Street Experts have initiated coverage on the stock with the most promising target being $10 and the most muted being $5.

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.

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