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Amarin (AMRN) Soars: Stock Adds 9.9% in Session

Zacks Equity Research
Updated

Amarin Corporation plc AMRN was a big mover last session, as the company saw its shares rise nearly 10% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $3.97 to $4.37 in the past one-month time frame.

The move came after the company announced that its REDUCE-IT cardiovascular outcomes study has reported and documented more than 90% of the targeted 1,612 primary major adverse cardiovascular events.

The company has seen a flat track record when it comes to estimate revisions over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Amarin Corporation PLC Price

Amarin Corporation PLC Price | Amarin Corporation PLC Quote

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Amarin currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.

A better-ranked stock in the Medical sector is Bioverativ Inc. BIVV, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is AMRN going up? Or down? Predict to see what others think: Up or Down

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Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>


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Amarin Corporation PLC (AMRN) : Free Stock Analysis Report
 
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