Amarin Co. plc (NASDAQ:AMRN) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 10,457,742 shares, a growth of 45.3% from the August 15th total of 7,198,761 shares. Approximately 3.6% of the company’s shares are short sold. Based on an average daily volume of 3,509,964 shares, the short-interest ratio is currently 3.0 days.
Shares of Amarin stock traded down $0.49 during trading on Friday, hitting $19.80. The company’s stock had a trading volume of 24,937,473 shares, compared to its average volume of 5,436,870. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of -79.20 and a beta of 0.32. The company has a debt-to-equity ratio of -1.25, a current ratio of 1.43 and a quick ratio of 1.13. Amarin has a 52 week low of $2.35 and a 52 week high of $20.50.
Amarin (NASDAQ:AMRN) last released its quarterly earnings data on Wednesday, August 1st. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The business had revenue of $52.64 million for the quarter, compared to analyst estimates of $54.88 million. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) EPS. On average, equities analysts anticipate that Amarin will post -0.42 EPS for the current year.
In other Amarin news, insider Steven B. Ketchum sold 879,241 shares of the stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $11.10, for a total transaction of $9,759,575.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Joseph T. Kennedy sold 50,249 shares of the stock in a transaction on Monday, October 1st. The shares were sold at an average price of $16.81, for a total transaction of $844,685.69. The disclosure for this sale can be found here. Insiders sold a total of 2,975,800 shares of company stock valued at $33,975,779 in the last ninety days. 4.08% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in AMRN. DekaBank Deutsche Girozentrale increased its stake in Amarin by 107.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 171,000 shares of the biopharmaceutical company’s stock valued at $511,000 after purchasing an additional 88,500 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Amarin by 81.8% during the 1st quarter. Private Advisor Group LLC now owns 64,293 shares of the biopharmaceutical company’s stock valued at $194,000 after acquiring an additional 28,929 shares during the last quarter. Claraphi Advisory Network LLC boosted its holdings in shares of Amarin by 637.3% during the 1st quarter. Claraphi Advisory Network LLC now owns 85,309 shares of the biopharmaceutical company’s stock valued at $257,000 after acquiring an additional 73,738 shares during the last quarter. Opaleye Management Inc. boosted its holdings in shares of Amarin by 102.9% during the 1st quarter. Opaleye Management Inc. now owns 1,745,000 shares of the biopharmaceutical company’s stock valued at $5,252,000 after acquiring an additional 885,000 shares during the last quarter. Finally, Eversept Partners LLC purchased a new stake in shares of Amarin during the 1st quarter valued at about $753,000. Institutional investors and hedge funds own 38.27% of the company’s stock.
Several equities research analysts have weighed in on the stock. Cantor Fitzgerald increased their price target on shares of Amarin from $15.00 to $35.00 in a research report on Friday. Jefferies Financial Group upped their price objective on shares of Amarin from $7.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 25th. ValuEngine upgraded shares of Amarin from a “buy” rating to a “strong-buy” rating in a report on Monday, September 24th. HC Wainwright restated a “buy” rating and issued a $20.00 price objective (up from $10.00) on shares of Amarin in a report on Tuesday, September 25th. Finally, Citigroup upped their price objective on shares of Amarin from $5.00 to $17.00 and gave the stock a “reduce” rating in a report on Tuesday, September 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $21.75.
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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