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.
WARNING: This report was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another domain, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this report can be accessed at https://www.americanbankingnews.com/2018/11/30/amarin-co-plc-amrn-short-interest-update.html.
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.
Recommended Story: Average Daily Trade Volume – ADTV
Receive News & Ratings for Amarin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amarin and related companies with MarketBeat.com's FREE daily email newsletter.