Amarin Co. plc (NASDAQ:AMRN) Short Interest Update

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AMRN. Waterfront Wealth Inc. grew its holdings in Amarin by 181.4% in the 4th quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company’s stock worth $1,204,000 after acquiring an additional 1,599,956 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Amarin by 3.0% during the fourth quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company’s stock worth $650,000 after purchasing an additional 39,452 shares during the period. Quinn Opportunity Partners LLC grew its stake in shares of Amarin by 85.2% in the fourth quarter. Quinn Opportunity Partners LLC now owns 1,106,539 shares of the biopharmaceutical company’s stock worth $537,000 after purchasing an additional 508,989 shares during the last quarter. AXA S.A. bought a new position in Amarin during the 4th quarter valued at approximately $480,000. Finally, LCM Capital Management Inc lifted its holdings in 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 period. 22.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Amarin in a research note on Monday. They issued a “sell” rating on the stock.

Amarin Stock Up 0.2 %

Shares of NASDAQ AMRN opened at $0.44 on Monday. Amarin has a twelve month low of $0.35 and a twelve month high of $1.11. The firm has a market capitalization of $181.11 million, a P/E ratio of -4.89 and a beta of 1.82. The stock’s 50-day simple moving average is $0.53 and its two-hundred day simple moving average is $0.54.

Amarin shares are set to reverse split on the morning of 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 released its earnings results on Wednesday, March 12th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. The company had revenue of $62.31 million during the quarter, compared to the consensus estimate of $32.37 million. As a group, research analysts anticipate that Amarin will post -0.15 EPS for the current fiscal year.

About Amarin

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.