Amarin Co. plc (NASDAQ:AMRN – Get Rating) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 12,720,000 shares, a decrease of 9.0% from the August 15th total of 13,980,000 shares. Based on an average daily trading volume, of 3,760,000 shares, the short-interest ratio is presently 3.4 days.
Institutional Investors Weigh In On Amarin
Institutional investors have recently modified their holdings of the stock. Creative Planning grew its stake in Amarin by 66.4% in the second quarter. Creative Planning now owns 17,285 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 6,900 shares in the last quarter. Quantbot Technologies LP acquired a new position in Amarin in the first quarter worth about $31,000. Winthrop Advisory Group LLC acquired a new position in Amarin in the first quarter worth about $34,000. Kalos Management Inc. acquired a new position in Amarin in the first quarter worth about $37,000. Finally, Advisor Resource Council acquired a new position in Amarin in the second quarter worth about $37,000. Institutional investors and hedge funds own 34.15% of the company's stock.
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Wall Street Analysts Forecast Growth
Separately, StockNews.com raised shares of Amarin from a "sell" rating to a "hold" rating in a research note on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $2.50.
Amarin Trading Down 4.3 %
AMRN opened at $1.10 on Thursday. The company has a fifty day simple moving average of $1.34 and a 200 day simple moving average of $1.97. The firm has a market cap of $443.53 million, a price-to-earnings ratio of -4.40 and a beta of 1.87. Amarin has a twelve month low of $1.09 and a twelve month high of $5.52.
Amarin (NASDAQ:AMRN – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.05). The firm had revenue of $94.44 million for the quarter, compared to analyst estimates of $88.21 million. Amarin had a negative net margin of 21.05% and a negative return on equity of 13.63%. Amarin's revenue for the quarter was down 38.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.02 earnings per share. On average, analysts forecast that Amarin will post -0.36 earnings per share for the current fiscal year.
About Amarin
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Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, Germany, Canada, Lebanon, and the United Arab Emirates. Its lead product is VASCEPA, a prescription-only omega-3 fatty acid product, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.
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