Amarin Co. plc (NASDAQ:AMRN – Get Rating) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 9,560,000 shares, a drop of 24.8% from the August 31st total of 12,720,000 shares. Based on an average trading volume of 3,570,000 shares, the short-interest ratio is currently 2.7 days.
Amarin Stock Performance
Shares of AMRN stock opened at $1.10 on Friday. The stock has a market capitalization of $443.53 million, a P/E ratio of -4.40 and a beta of 1.87. The company has a 50 day moving average price of $1.32 and a 200 day moving average price of $1.89. Amarin has a fifty-two week low of $1.04 and a fifty-two week high of $5.24.
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Amarin (NASDAQ:AMRN – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.11). The business had revenue of $94.44 million during 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%. The company's revenue for the quarter was down 38.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.02 EPS. On average, research analysts forecast that Amarin will post -0.36 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded shares of Amarin from a "sell" rating to a "hold" rating in a research report on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Amarin currently has an average rating of "Hold" and an average target price of $2.50.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Creative Planning grew its holdings in shares of Amarin by 66.4% in the second quarter. Creative Planning now owns 17,285 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 6,900 shares in the last quarter. Quantbot Technologies LP acquired a new position in Amarin during the 1st quarter worth approximately $31,000. Winthrop Advisory Group LLC acquired a new position in Amarin during the 1st quarter worth approximately $34,000. Kalos Management Inc. acquired a new position in Amarin during the 1st quarter worth approximately $37,000. Finally, Advisor Resource Council acquired a new position in Amarin during the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 34.15% of the company's stock.
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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