Amarin Co. plc (AMRN) Short Interest Up 34.1% in October

Amarin Co. plc (NASDAQ:AMRN) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 17,500,650 shares, a growth of 34.1% from the October 15th total of 13,052,628 shares. Based on an average trading volume of 10,687,612 shares, the days-to-cover ratio is presently 1.6 days. Currently, 6.0% of the company’s stock are short sold.

In other Amarin news, CFO Michael Wayne Kalb sold 150,000 shares of the firm’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $10.42, for a total transaction of $1,563,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Joseph S. Zakrzewski sold 500,000 shares of the firm’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $10.60, for a total transaction of $5,300,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,016,149 shares of company stock worth $34,812,617 over the last quarter. 4.08% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Amarin in the third quarter valued at about $137,000. BKS Advisors LLC purchased a new stake in shares of Amarin in the third quarter valued at about $162,000. Trexquant Investment LP purchased a new stake in shares of Amarin in the third quarter valued at about $358,000. MML Investors Services LLC boosted its holdings in shares of Amarin by 66.4% in the third quarter. MML Investors Services LLC now owns 23,336 shares of the biopharmaceutical company’s stock valued at $380,000 after acquiring an additional 9,316 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Amarin by 165.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 31,125 shares of the biopharmaceutical company’s stock valued at $506,000 after acquiring an additional 19,400 shares in the last quarter. 39.44% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:AMRN opened at $21.05 on Friday. The stock has a market capitalization of $6.63 billion, a PE ratio of -84.20 and a beta of 0.70. Amarin has a fifty-two week low of $2.35 and a fifty-two week high of $23.33.

Amarin (NASDAQ:AMRN) last issued its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.01. The firm had revenue of $55.00 million during the quarter, compared to analysts’ expectations of $60.63 million. The firm’s revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.04) EPS. As a group, sell-side analysts expect that Amarin will post -0.4 EPS for the current year.

Several brokerages have issued reports on AMRN. Zacks Investment Research downgraded shares of Amarin from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. BidaskClub downgraded shares of Amarin from a “buy” rating to a “hold” rating in a research report on Thursday. SunTrust Banks raised their price objective on shares of Amarin to $30.00 and gave the stock a “reduce” rating in a research report on Monday, November 5th. HC Wainwright reissued a “positive” rating and set a $31.00 price objective on shares of Amarin in a research report on Friday, November 2nd. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $35.00 price objective on shares of Amarin in a research report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Amarin has a consensus rating of “Buy” and a consensus price target of $27.80.

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Amarin Company Profile

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.

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