Amarin Co. plc (AMRN) Short Interest Update

Amarin Co. plc (NASDAQ:AMRN) was the target of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 11,354,568 shares, a decrease of 35.1% from the October 31st total of 17,500,650 shares. Approximately 3.9% of the shares of the stock are sold short. Based on an average trading volume of 17,939,623 shares, the days-to-cover ratio is presently 0.6 days.

In other news, insider Steven B. Ketchum sold 879,241 shares of the stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $11.10, for a total transaction of $9,759,575.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Wayne Kalb sold 150,000 shares of the stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $10.42, for a total value of $1,563,000.00. The disclosure for this sale can be found here. Insiders sold a total of 3,623,760 shares of company stock worth $46,399,759 over the last 90 days. Corporate insiders own 4.08% of the company’s stock.

A number of hedge funds have recently modified their holdings of AMRN. Alps Advisors Inc. purchased a new stake in Amarin during the 2nd quarter valued at about $1,203,000. TD Asset Management Inc. boosted its holdings in Amarin by 54.4% during the 2nd quarter. TD Asset Management Inc. now owns 134,207 shares of the biopharmaceutical company’s stock valued at $415,000 after acquiring an additional 47,300 shares during the period. GSA Capital Partners LLP boosted its holdings in Amarin by 66.3% during the 2nd quarter. GSA Capital Partners LLP now owns 162,800 shares of the biopharmaceutical company’s stock valued at $503,000 after acquiring an additional 64,900 shares during the period. BlackRock Inc. boosted its holdings in Amarin by 1.4% during the 2nd quarter. BlackRock Inc. now owns 3,392,430 shares of the biopharmaceutical company’s stock valued at $10,482,000 after acquiring an additional 46,957 shares during the period. Finally, FMR LLC boosted its holdings in Amarin by 57.7% during the 2nd quarter. FMR LLC now owns 5,335,221 shares of the biopharmaceutical company’s stock valued at $16,486,000 after acquiring an additional 1,952,118 shares during the period. Institutional investors own 36.83% of the company’s stock.

Several brokerages have recently commented on AMRN. BidaskClub upgraded Amarin from a “hold” rating to a “buy” rating in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and set a $51.00 price objective (up from $31.00) on shares of Amarin in a research report on Monday, November 12th. SunTrust Banks increased their price objective on Amarin to $30.00 and gave the company a “reduce” rating in a research report on Monday, November 5th. Citigroup lowered Amarin from a “buy” rating to a “neutral” rating and increased their price objective for the company from $25.00 to $28.00 in a research report on Friday, November 2nd. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $35.00 price objective on shares of Amarin in a research report on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $31.80.

Shares of Amarin stock opened at $17.29 on Friday. The stock has a market cap of $4.92 billion, a PE ratio of -69.16 and a beta of 0.70. Amarin has a 12 month low of $2.35 and a 12 month high of $23.33.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. The firm had revenue of $55.00 million for the quarter, compared to the consensus estimate of $60.63 million. Amarin’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.04) earnings per share. On average, sell-side analysts anticipate that Amarin will post -0.36 earnings per share for the current fiscal 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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