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While short-term price movement bodes well for Amarin, this biotech also has a decent fundamental story.Īmarin is the developer of a prescription drug, Vascepa, which reduces triglycerides (fats) in adults.
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But overall, AMRN stock actually finds itself in a strong short-term uptrend. Instead, it was just a sign that the gains were too much, too fast. What we saw last week wasn’t, in fact, a red flag telling investors to abandon ship. But investors should remember that corrections are healthy, especially after monstrous jumps like the one Amarin stock just enjoyed. It’s easy to see why investors might be a little panicky after the selloffs from Friday’s peak. Monday and Tuesday saw AMRN stock fall by more than 10% each day, sparking quite a bit of conversation as to how long the declines would last.Īmarin found itself back on the uptrend Wednesday, gaining more than 10% from the previous close, and finished the week with a leveling out.Īll told, though, AMRN stock is now nearly 30% ahead of where it was before the Wainwright upgrade. Amarin stock skyrocketed again for a total two-day run of more than 50%. When the news broke March 12 that HC Wainwright upgraded AMRN stock from “neutral” to “buy” - increasing the target price from $2.50 to $10 - investors climbed over each other to push Amarin more than 20% higher by Thursday.įollowing Thursday’s action, one would’ve expected AMRN to take a breather, but instead, we saw the opposite. While the stock has given up some of the gains we saw last week, it still looks like a great option in the broader picture. So, what’s going on with Amarin? This is a classic case of a stock being a victim of its own success. However, today, the stock seems to be recovering and we seem to be on the right track. Then, early this week we saw some pretty drastic losses. 5 Blue-Chip Stocks of Tomorrow to Buy Today.While AMRN has given up some of its early post-upgrade gains, it’s still a great option in the broader picture. Well, the recent action seems to be just a classic case of a stock becoming a victim of its own success.
#Amrn conversations upgrade#
Following a major analyst upgrade from HC Wainwright a couple weeks ago, we saw tremendous gains in Amarin stock, followed by some pretty drastic losses.ĪMRN stock leveled out near the end of last week, but the question facing Amarin investors is: What’s next? Biotech stock Amarin Corporation plc (ADR) (NASDAQ: AMRN) has been quite the conversation piece lately, and for good reason.