user warning: Got error 28 from storage engine query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 467095 ORDER BY v.weight, t.weight, in /var/www/ on line 617.

Amarin's Shares Changing Hands at Lower Prices on 2.3x Above-Average Volume (AMRN)

Published on Tue, 03/26/2013 - 13:09
By Robert Cotter

Amarin's stock is down 5.7% to $6.92 on heavy trading volume. Today's volume of 7.4 million shares tops the average 30-day volume of 3.2 million shares. Spikes in volume can validate a breakout or signify a potential turning point.

Amarin Corporation PLC is a clinical-stage biopharmaceutical company. The Company researches, develops, and commercializes drugs for the treatment of hypertriglyceridemia, central nervous system disorders, and cardiovascular diseases.

Amarin share prices have moved between a 52-week high of $15.96 and the current low of $6.80 and are currently at $6.92 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has slid 0.5%.

Amarin (NASDAQ:AMRN) has potential upside of 120.9% based on a current price of $6.92 and analysts' consensus price target of $15.29. The stock should run into initial resistance at its 50-day moving average (MA) of $8.32 and subsequent resistance at its 200-day MA of $11.09.

By Robert Cotter