Amarin Co. plc (AMRN) Sees Significant Decrease in Short Interest

Amarin Co. plc (NASDAQ:AMRN) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 13,052,628 shares, a decline of 19.6% from the September 28th total of 16,229,338 shares. Currently, 4.5% of the company’s shares are short sold. Based on an average daily volume of 26,912,387 shares, the short-interest ratio is presently 0.5 days.

AMRN opened at $21.96 on Friday. Amarin has a 1-year low of $2.35 and a 1-year high of $22.12. The company has a quick ratio of 1.13, a current ratio of 1.43 and a debt-to-equity ratio of -1.25. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of -87.84 and a beta of 0.45.

Amarin (NASDAQ:AMRN) last posted its quarterly earnings results on Wednesday, August 1st. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The business had revenue of $52.64 million for the quarter, compared to analysts’ expectations of $54.88 million. During the same period in the prior year, the business posted ($0.04) earnings per share. The company’s quarterly revenue was up 16.4% on a year-over-year basis. On average, equities analysts predict that Amarin will post -0.42 earnings per share for the current year.



In related news, insider Steven B. Ketchum sold 316,604 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $16.13, for a total value of $5,106,822.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael Wayne Kalb sold 150,000 shares of the business’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $10.42, for a total transaction of $1,563,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,975,800 shares of company stock worth $33,975,779. 4.08% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of AMRN. FMR LLC increased its stake in Amarin by 57.7% in the second quarter. FMR LLC now owns 5,335,221 shares of the biopharmaceutical company’s stock valued at $16,486,000 after purchasing an additional 1,952,118 shares in the last quarter. EULAV Asset Management bought a new stake in Amarin in the third quarter valued at $15,456,000. Alps Advisors Inc. bought a new stake in Amarin in the second quarter valued at $1,317,000. State of New Jersey Common Pension Fund D bought a new stake in Amarin in the third quarter valued at $3,254,000. Finally, GSA Capital Partners LLP increased its stake in Amarin by 66.3% in the second quarter. GSA Capital Partners LLP now owns 162,800 shares of the biopharmaceutical company’s stock valued at $503,000 after purchasing an additional 64,900 shares in the last quarter. 39.02% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on the stock. ValuEngine lowered shares of Amarin from a “buy” rating to a “hold” rating in a report on Saturday, July 28th. BidaskClub upgraded shares of Amarin from a “sell” rating to a “hold” rating in a report on Monday, September 24th. Citigroup restated a “buy” rating and issued a $25.00 target price (up previously from $17.00) on shares of Amarin in a report on Tuesday, October 16th. Cantor Fitzgerald set a $10.00 target price on shares of Amarin and gave the company a “buy” rating in a report on Thursday, August 23rd. Finally, Jefferies Financial Group boosted their target price on shares of Amarin from $7.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, September 25th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $23.75.

About Amarin

Amarin Corporation plc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States. The company's lead product is Vascepa, a prescription-only omega-3 fatty acid capsule, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.

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