Amarin Corporation plc (NASDAQ:AMRN) is among the top gainers of the stock market today, skyrocketing 2.7% or (0.47 points) to $17.86 from its previous close of $17.39. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 2001604 contracts so far this session. AMRN shares had a relatively better volume day versus average trading capacity of 7.29 million shares, but with a 0.15 billion float and a 0.46% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for AMRN stock indicates that the average analyst price target is $33.2 per share. This means the stock has a potential increase of 85.89% from where the AMRN share price has been trading recently which is between $17.02 and $17.39. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $23.
The shorts are climbing into Amarin Corporation plc (AMRN) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in AMRN shares. While short interest still represents only 14.65% of AMRN’s float, the number of shares shorted have risen by 1820643. The number of shares shorted advanced to 23732579 shares, up from 21911936 shares during the preceding fortnight. With average daily trading volumes at 5442797 shares, days to cover increased to about 3.876531 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Vascepa® to Be Featured in Multiple Scientific Sessions at the National Lipid Association Annual Meeting” and dated May 16, 2019.
During the recent trading session for Amarin Corporation plc (NASDAQ:AMRN), the company witnessed their stock rise $0.49 over a week and tumble down $-0.26 from the price 20 days ago. When compared to their established 52-week high of $23.33, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 11/06/18. The recent low of $2.35 stood for a -23.46% since 07/31/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.28 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Amarin Corporation plc, the two-week RSI stands at 49.45. This figure suggests that AMRN stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current AMRN readings is similarly very revealing as it has a stochastic reading of 38.06% at this stage. This figure means that AMRN share price today is being neutral.
Technical chart claims that Amarin Corporation plc (AMRN) would settle between $17.51/share to $17.64/share level. However, if the stock price goes below the $17.14 mark, then the market for Amarin Corporation plc becomes much weaker. If that happens, the stock price might even plunge as low as $16.9 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.18. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Stifel, assumed coverage of AMRN assigning Buy rating, according to their opinion released on March 22. Citigroup analysts bumped their rating on Amarin Corporation plc (NASDAQ:AMRN) stock from Neutral to Buy in a separate flash note issued to investors on November 14. Analysts at Citigroup lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to November 02.
AMRN equity has an average rating of 1.4, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated Amarin Corporation plc (NASDAQ:AMRN) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, AMRN stock price is currently trading at 82.03X forward 12-month Consensus EPS estimates, and its P/S ratio is 22.24 while for the average stock in the same group, the multiple is 42.11.
Amarin Corporation plc (AMRN)’s current-quarter revenues are projected to climb by nearly 74.9% to hit $92.07 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 60.97% from $229210 to a noteworthy $368970. At the other end of the current quarter income statement, Amarin Corporation plc is expected to see its adjusted earnings surge by roughly 70% to hit $-0.03 per share. For the fiscal year, AMRN’s earnings are projected to climb by roughly 81.82% to hit $-0.06 per share.