Amarin Co. plc (AMRN) Short Interest Up 8.3% in April

Amarin Co. plc (NASDAQ:AMRN) was the target of a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 23,732,579 shares, a growth of 8.3% from the April 15th total of 21,911,936 shares. Approximately 7.3% of the company’s shares are short sold. Based on an average daily trading volume, of 5,442,797 shares, the short-interest ratio is presently 4.4 days.

AMRN opened at $17.28 on Friday. The company has a current ratio of 2.20, a quick ratio of 1.84 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of -44.31 and a beta of 1.15. Amarin has a twelve month low of $2.35 and a twelve month high of $23.33.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.04. Amarin had a negative net margin of 45.16% and a negative return on equity of 450.07%. The company had revenue of $73.30 million during the quarter, compared to the consensus estimate of $67.30 million. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. The firm’s revenue was up 67.0% compared to the same quarter last year. Research analysts predict that Amarin will post -0.22 earnings per share for the current year.

Several equities research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Amarin from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 8th. BidaskClub lowered shares of Amarin from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. Stifel Nicolaus assumed coverage on shares of Amarin in a report on Thursday, March 21st. They issued a “buy” rating and a $27.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating on shares of Amarin in a report on Monday, April 1st. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $30.43.

In other Amarin news, Director Lars Ekman sold 135,377 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $21.31, for a total value of $2,884,883.87. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Wayne Kalb sold 100,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $22.09, for a total transaction of $2,209,000.00. The disclosure for this sale can be found here. Insiders sold 681,810 shares of company stock worth $14,400,977 over the last 90 days. 2.75% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the company. Wealthcare Advisory Partners LLC bought a new stake in shares of Amarin during the first quarter worth $42,000. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Amarin during the first quarter worth $44,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Amarin during the fourth quarter worth $34,000. Winslow Evans & Crocker Inc. increased its position in shares of Amarin by 150.0% during the first quarter. Winslow Evans & Crocker Inc. now owns 2,500 shares of the biopharmaceutical company’s stock worth $52,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Global Retirement Partners LLC increased its position in shares of Amarin by 266.3% during the fourth quarter. Global Retirement Partners LLC now owns 2,612 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 1,899 shares in the last quarter. 48.85% of the stock is owned by institutional investors.

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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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