Amarin Co. plc (NASDAQ:AMRN) Short Interest Down 35.4% in March

Amarin Co. plc (NASDAQ:AMRN) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 10,840,000 shares, a decline of 35.4% from the February 28th total of 16,790,000 shares. Based on an average daily volume of 1,580,000 shares, the short-interest ratio is presently 6.9 days. Approximately 2.7% of the company’s stock are short sold.

Amarin Stock Performance

NASDAQ:AMRN opened at $0.44 on Friday. Amarin has a one year low of $0.35 and a one year high of $1.11. The business’s 50-day simple moving average is $0.53 and its 200 day simple moving average is $0.54. The stock has a market cap of $180.78 million, a price-to-earnings ratio of -4.89 and a beta of 1.82.

Shares of Amarin are scheduled to reverse split before the market opens on Friday, April 11th. The 1-20 reverse split was announced on Wednesday, March 12th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, April 10th.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings results on Wednesday, March 12th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The company had revenue of $62.31 million during the quarter, compared to the consensus estimate of $32.37 million. Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. On average, equities research analysts predict that Amarin will post -0.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Amarin in a report on Sunday, March 23rd. They set a “sell” rating for the company.

Institutional Trading of Amarin

Several hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Common Retirement Fund acquired a new position in shares of Amarin in the 4th quarter worth approximately $68,000. Waterfront Wealth Inc. increased its stake in Amarin by 181.4% during the fourth quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock valued at $1,204,000 after purchasing an additional 1,599,956 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Amarin by 8.8% during the third quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock worth $816,000 after purchasing an additional 104,939 shares during the period. Arkfeld Wealth Strategies L.L.C. raised its holdings in shares of Amarin by 52.6% during the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 58,000 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 20,000 shares during the period. Finally, LCM Capital Management Inc lifted its position in shares of Amarin by 3.1% in the 4th quarter. LCM Capital Management Inc now owns 838,259 shares of the biopharmaceutical company’s stock worth $407,000 after buying an additional 25,100 shares during the last quarter. 22.25% of the stock is owned by institutional investors.

Amarin Company Profile

Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, European countries, Canada, Lebanon, and the United Arab Emirates. The company offers 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.