Short Interest in Amarin Co. plc (NASDAQ:AMRN) Declines By 12.1%

Amarin Co. plc (NASDAQ:AMRN) was the target of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 15,840,000 shares, a decline of 12.1% from the March 31st total of 18,020,000 shares. Based on an average daily volume of 1,680,000 shares, the days-to-cover ratio is presently 9.4 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMRN. Newbridge Financial Services Group Inc. purchased a new stake in shares of Amarin during the 1st quarter valued at approximately $37,000. Simplicity Wealth LLC purchased a new stake in shares of Amarin during the 1st quarter valued at approximately $418,000. Hayek Kallen Investment Management lifted its stake in shares of Amarin by 63.3% during the 4th quarter. Hayek Kallen Investment Management now owns 1,016,760 shares of the biopharmaceutical company’s stock valued at $885,000 after buying an additional 394,117 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Amarin by 100.6% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 46,480 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 23,313 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Amarin by 705.2% during the 4th quarter. BNP Paribas Financial Markets now owns 455,177 shares of the biopharmaceutical company’s stock valued at $396,000 after buying an additional 398,648 shares in the last quarter. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Amarin Stock Performance

Amarin stock opened at $0.87 on Monday. Amarin has a fifty-two week low of $0.65 and a fifty-two week high of $1.49. The firm’s 50-day simple moving average is $0.97 and its 200 day simple moving average is $0.93.

Amarin (NASDAQ:AMRN) last released its earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. The firm had revenue of $74.71 million for the quarter, compared to analysts’ expectations of $72.46 million. Amarin had a negative net margin of 19.26% and a negative return on equity of 10.47%. As a group, equities analysts expect that Amarin will post -0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Amarin in a report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Amarin currently has a consensus rating of “Hold” and an average price target of $1.08.

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.