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.