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

Amarin Co. plc (NASDAQ:AMRN) was the recipient of a significant decline in short interest during the month of 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 trading volume of 1,580,000 shares, the days-to-cover ratio is presently 6.9 days. Currently, 2.7% of the company’s stock are sold short.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Amarin

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stonepine Capital Management LLC bought a new stake in shares of Amarin in the fourth quarter valued at approximately $55,000. BNP Paribas Financial Markets grew its position in Amarin by 3.0% in the 4th 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 last quarter. AXA S.A. bought a new position in shares of Amarin during the 4th quarter worth about $480,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Amarin during the fourth quarter valued at about $171,000. Finally, Jane Street Group LLC bought a new stake in shares of Amarin in the fourth quarter valued at about $130,000. 22.25% of the stock is owned by institutional investors and hedge funds.

Amarin Stock Performance

Shares of NASDAQ AMRN opened at $0.44 on Friday. The business’s 50-day simple moving average is $0.53 and its 200-day simple moving average is $0.54. Amarin has a 52 week low of $0.35 and a 52 week high of $1.11. The firm has a market cap of $180.78 million, a price-to-earnings ratio of -4.89 and a beta of 1.82.

Amarin shares are going 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 data 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 return on equity of 7.22% and a negative net margin of 16.33%. The firm had revenue of $62.31 million during the quarter, compared to analyst estimates of $32.37 million. As a group, equities research analysts forecast that Amarin will post -0.15 earnings per share for the current year.

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.