Amarin Co. plc (AMRN) Short Interest Up 34.1% in October

Amarin Co. plc (NASDAQ:AMRN) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 17,500,650 shares, a growth of 34.1% from the October 15th total of 13,052,628 shares. Approximately 6.0% of the company’s shares are short sold. Based on an average daily volume of 10,687,612 shares, the short-interest ratio is currently 1.6 days.

A number of equities research analysts have issued reports on AMRN shares. Cantor Fitzgerald reiterated a “buy” rating and set a $10.00 target price on shares of Amarin in a report on Monday, September 24th. BidaskClub lowered shares of Amarin from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th. Citigroup reiterated a “buy” rating and set a $25.00 target price (up from $17.00) on shares of Amarin in a report on Tuesday, October 16th. ValuEngine upgraded shares of Amarin from a “buy” rating to a “strong-buy” rating in a report on Monday, September 24th. Finally, Jefferies Financial Group increased their target price on shares of Amarin from $7.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Amarin currently has a consensus rating of “Buy” and a consensus price target of $27.80.

In related news, insider Steven B. Ketchum sold 879,241 shares of the stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $11.10, for a total transaction of $9,759,575.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Joseph T. Kennedy sold 1,079,706 shares of the stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $10.56, for a total transaction of $11,401,695.36. The disclosure for this sale can be found here. Insiders have sold a total of 3,016,149 shares of company stock valued at $34,812,617 in the last ninety days. 4.08% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Claraphi Advisory Network LLC raised its holdings in shares of Amarin by 5.8% in the 3rd quarter. Claraphi Advisory Network LLC now owns 55,521 shares of the biopharmaceutical company’s stock valued at $903,000 after purchasing an additional 3,030 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Amarin in the 3rd quarter valued at $137,000. MML Investors Services LLC raised its holdings in shares of Amarin by 66.4% in the 3rd quarter. MML Investors Services LLC now owns 23,336 shares of the biopharmaceutical company’s stock valued at $380,000 after purchasing an additional 9,316 shares in the last quarter. BKS Advisors LLC acquired a new stake in shares of Amarin in the 3rd quarter valued at $162,000. Finally, BlackRock Inc. raised its holdings in shares of Amarin by 0.3% in the 3rd quarter. BlackRock Inc. now owns 3,403,454 shares of the biopharmaceutical company’s stock valued at $55,374,000 after purchasing an additional 11,024 shares in the last quarter. Institutional investors and hedge funds own 39.44% of the company’s stock.

Amarin stock opened at $21.05 on Friday. The company has a market cap of $6.63 billion, a price-to-earnings ratio of -84.20 and a beta of 0.70. Amarin has a 52-week low of $2.35 and a 52-week high of $23.33.

Amarin (NASDAQ:AMRN) last released its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.01. The business had revenue of $55.00 million for the quarter, compared to analyst estimates of $60.63 million. Amarin’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) earnings per share. Equities analysts predict that Amarin will post -0.4 earnings per share for the current year.

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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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