Short Interest in Amarin Co. plc (NASDAQ:AMRN) Declines By 94.7%

Amarin Co. plc (NASDAQ:AMRN) was the target of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 629,400 shares, a decrease of 94.7% from the March 31st total of 11,970,000 shares. Currently, 3.1% of the company’s stock are short sold. Based on an average daily volume of 88,700 shares, the days-to-cover ratio is currently 7.1 days.

Amarin Stock Down 6.7 %

Shares of AMRN stock opened at $10.43 on Monday. Amarin has a 52-week low of $7.08 and a 52-week high of $20.60. The stock’s 50-day moving average price is $9.62 and its 200 day moving average price is $10.37. The stock has a market capitalization of $214.17 million, a PE ratio of -115.89 and a beta of 1.38.

Amarin (NASDAQ:AMRN) last issued its earnings results on Wednesday, March 12th. The biopharmaceutical company reported ($2.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.20) by ($1.20). The business had revenue of $62.31 million for the quarter, compared to analysts’ expectations of $32.37 million. Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. Analysts expect that Amarin will post -0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AMRN. Waterfront Wealth Inc. lifted its position in shares of Amarin by 1.3% in the first quarter. Waterfront Wealth Inc. now owns 2,514,615 shares of the biopharmaceutical company’s stock valued at $1,127,000 after acquiring an additional 32,849 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Amarin by 3.0% in the 4th quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company’s stock valued at $650,000 after purchasing an additional 39,452 shares during the last quarter. Quinn Opportunity Partners LLC lifted its holdings in Amarin by 85.2% in the 4th quarter. Quinn Opportunity Partners LLC now owns 1,106,539 shares of the biopharmaceutical company’s stock valued at $537,000 after purchasing an additional 508,989 shares in the last quarter. AXA S.A. acquired a new stake in shares of Amarin during the 4th quarter worth about $480,000. Finally, LCM Capital Management Inc grew its holdings in shares of Amarin by 3.1% during the fourth quarter. LCM Capital Management Inc now owns 838,259 shares of the biopharmaceutical company’s stock worth $407,000 after buying an additional 25,100 shares in the last quarter. 22.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMRN. The Goldman Sachs Group lowered their price objective on Amarin from $20.00 to $7.00 and set a “sell” rating for the company in a research report on Thursday, April 17th. StockNews.com started coverage on shares of Amarin in a research report on Wednesday, April 16th. They set a “sell” rating for the company.

Amarin Company Profile

Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, European countries, Canada, Lebanon, and the United Arab Emirates. The company offers VASCEPA, a prescription-only omega-3 fatty acid product, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.