Amarin Co. plc (NASDAQ:AMRN) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 7,830,992 shares, an increase of 22.8% from the February 15th total of 6,377,570 shares. Based on an average daily volume of 1,415,727 shares, the short-interest ratio is presently 5.5 days.
In related news, insider Steven B. Ketchum sold 135,205 shares of Amarin stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $4.41, for a total value of $596,254.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Joseph T. Kennedy sold 44,857 shares of Amarin stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $3.73, for a total value of $167,316.61. The disclosure for this sale can be found here. In the last three months, insiders sold 426,720 shares of company stock valued at $1,814,296. Corporate insiders own 3.72% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMRN. Paloma Partners Management Co purchased a new position in Amarin during the fourth quarter valued at $141,000. Hoylecohen LLC purchased a new position in Amarin during the fourth quarter valued at $142,000. Wells Fargo & Company MN lifted its position in Amarin by 15.2% during the second quarter. Wells Fargo & Company MN now owns 37,801 shares of the biopharmaceutical company’s stock valued at $152,000 after purchasing an additional 5,000 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Amarin during the third quarter valued at $226,000. Finally, Stevens Capital Management LP purchased a new position in Amarin during the third quarter valued at $229,000. Institutional investors own 38.50% of the company’s stock.
Amarin (NASDAQ:AMRN) last released its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03). The company had revenue of $53.87 million during the quarter, compared to the consensus estimate of $52.73 million. The business’s quarterly revenue was up 39.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.10) EPS. equities analysts anticipate that Amarin will post -0.33 EPS for the current fiscal year.
Several brokerages recently commented on AMRN. Cantor Fitzgerald set a $10.00 price objective on Amarin and gave the stock a “buy” rating in a report on Wednesday, December 6th. ValuEngine raised Amarin from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. BidaskClub lowered Amarin from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. HC Wainwright reaffirmed a “buy” rating on shares of Amarin in a report on Thursday, March 1st. Finally, Zacks Investment Research raised Amarin from a “sell” rating to a “hold” rating in a report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Amarin presently has a consensus rating of “Hold” and a consensus price target of $7.75.
Amarin Company Profile
Amarin Corporation plc is a biopharmaceutical company with operations in lipid science focused on the commercialization and development of therapeutics for cardiovascular health. The Company operates through the development and commercialization of Vascepa segment. The Company’s lead product, Vascepa (icosapent ethyl) capsule, is approved by the United States Food and Drug Administration (FDA) for use as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia.
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