Amarin Co. plc (NASDAQ:AMRN) Sees Large Decline in Short Interest

Amarin Co. plc (NASDAQ:AMRN) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 44,560,000 shares, a decline of 6.0% from the December 15th total of 47,420,000 shares. Based on an average trading volume of 10,210,000 shares, the days-to-cover ratio is currently 4.4 days. Approximately 12.7% of the shares of the company are sold short.

AMRN has been the subject of several recent analyst reports. BidaskClub downgraded Amarin from a “hold” rating to a “sell” rating in a research note on Friday, January 10th. HC Wainwright restated a “buy” rating and issued a $51.00 price target on shares of Amarin in a research note on Thursday, January 9th. TheStreet upgraded Amarin from a “d” rating to a “c-” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. initiated coverage on Amarin in a research note on Monday, January 6th. They issued a “neutral” rating and a $22.00 price target for the company. Finally, Roth Capital restated a “buy” rating and issued a $31.00 price target on shares of Amarin in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $27.23.

In other Amarin news, CEO John F. Thero sold 475,546 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $24.02, for a total value of $11,422,614.92. Also, Director Lars Ekman sold 38,600 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $24.02, for a total value of $927,172.00. Over the last quarter, insiders have sold 788,600 shares of company stock valued at $18,088,620. 2.75% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Oppenheimer & Co. Inc. raised its holdings in shares of Amarin by 19.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 27,779 shares of the biopharmaceutical company’s stock worth $421,000 after acquiring an additional 4,570 shares in the last quarter. Comerica Bank raised its holdings in Amarin by 15.6% during the 3rd quarter. Comerica Bank now owns 23,275 shares of the biopharmaceutical company’s stock valued at $395,000 after buying an additional 3,149 shares during the period. Invesco Ltd. raised its holdings in Amarin by 1,402.6% during the 2nd quarter. Invesco Ltd. now owns 8,414,943 shares of the biopharmaceutical company’s stock valued at $163,166,000 after buying an additional 7,854,902 shares during the period. Russell Investments Group Ltd. purchased a new stake in Amarin during the 3rd quarter valued at $315,000. Finally, Bank of America Corp DE raised its holdings in Amarin by 73.3% during the 2nd quarter. Bank of America Corp DE now owns 404,748 shares of the biopharmaceutical company’s stock valued at $7,849,000 after buying an additional 171,136 shares during the period. 52.79% of the stock is currently owned by institutional investors and hedge funds.

Shares of AMRN traded up $0.63 during mid-day trading on Thursday, hitting $20.03. 4,218,525 shares of the stock were exchanged, compared to its average volume of 7,532,713. The company has a market cap of $6.90 billion, a PE ratio of -51.35 and a beta of 1.05. Amarin has a 52-week low of $13.76 and a 52-week high of $26.12. The firm has a 50-day moving average of $21.36 and a two-hundred day moving average of $18.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.45 and a current ratio of 3.69.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. The business had revenue of $112.40 million for the quarter, compared to analysts’ expectations of $110.04 million. Amarin had a negative return on equity of 26.67% and a negative net margin of 17.42%. The company’s revenue for the quarter was up 104.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.08) EPS. On average, sell-side analysts predict that Amarin will post -0.1 EPS for the current year.

Amarin Company Profile

Amarin Corp. Plc is a biopharmaceutical company, which focuses on the commercialization and development of therapeutics for cardiovascular health. Its product development program leverages its experience in lipid science and the potential therapeutic benefits of polyunsaturated fatty acids. It has developed and markets Vascepa capsules through wholesale.

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