Amarin Co. plc (AMRN) Short Interest Up 13.6% in February

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Amarin Co. plc (NASDAQ:AMRN) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 17,514,524 shares, a growth of 13.6% from the February 15th total of 15,412,976 shares. Based on an average trading volume of 10,037,142 shares, the days-to-cover ratio is presently 1.7 days. Approximately 6.1% of the shares of the company are sold short.

AMRN has been the subject of a number of research reports. BidaskClub raised shares of Amarin from a “hold” rating to a “buy” rating in a report on Tuesday, November 27th. Cantor Fitzgerald set a $35.00 target price on shares of Amarin and gave the company a “buy” rating in a research report on Friday, December 28th. Citigroup decreased their target price on shares of Amarin to $20.00 in a research report on Tuesday, January 8th. Zacks Investment Research raised shares of Amarin from a “sell” rating to a “hold” rating in a research report on Wednesday, January 23rd. Finally, SunTrust Banks reaffirmed a “buy” rating on shares of Amarin in a research report on Monday, January 7th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $33.20.

AMRN stock opened at $20.57 on Friday. Amarin has a twelve month low of $2.35 and a twelve month high of $23.33. The company has a quick ratio of 2.04, a current ratio of 2.40 and a debt-to-equity ratio of 0.35. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of -52.74 and a beta of 1.29.

Amarin (NASDAQ:AMRN) last released its earnings results on Wednesday, February 27th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.03). The company had revenue of $77.30 million during the quarter, compared to the consensus estimate of $73.87 million. During the same period last year, the firm earned ($0.08) EPS. Amarin’s revenue was up 43.4% compared to the same quarter last year. Sell-side analysts expect that Amarin will post -0.17 EPS for the current fiscal year.

In related news, General Counsel Joseph T. Kennedy sold 26,943 shares of the company’s stock in a transaction dated Monday, December 31st. The shares were sold at an average price of $13.49, for a total value of $363,461.07. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven B. Ketchum sold 17,041 shares of the company’s stock in a transaction dated Monday, December 31st. The shares were sold at an average price of $13.51, for a total transaction of $230,223.91. The disclosure for this sale can be found here. Insiders have sold 2,841,072 shares of company stock worth $49,748,088 over the last ninety days. Insiders own 4.08% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. purchased a new stake in Amarin in the fourth quarter worth $34,000. Neuburgh Advisers LLC purchased a new stake in shares of Amarin in the fourth quarter worth $36,000. Global Retirement Partners LLC boosted 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 valued at $36,000 after buying an additional 1,899 shares during the last quarter. Lindbrook Capital LLC purchased a new stake in shares of Amarin during the fourth quarter valued at $40,000. Finally, Financial Advocates Investment Management lifted its holdings in Amarin by 45.0% in the fourth quarter. Financial Advocates Investment Management now owns 29,000 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 9,000 shares during the period. Institutional investors own 48.30% of the company’s stock.

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Amarin Company Profile

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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