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

Amarin Co. plc (NASDAQ:AMRN - Get Free Report) was the recipient of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 629,400 shares, a drop of 94.7% from the March 31st total of 11,970,000 shares. Based on an average daily volume of 88,700 shares, the days-to-cover ratio is presently 7.1 days. Currently, 3.1% of the shares of the company are short sold.

Institutional Trading of Amarin

Hedge funds have recently bought and sold shares of the company. Arkfeld Wealth Strategies L.L.C. raised its holdings in shares of Amarin by 52.6% during the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 58,000 shares of the biopharmaceutical company's stock valued at $30,000 after acquiring an additional 20,000 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Amarin during the 4th quarter valued at $36,000. Generation Capital Management LLC purchased a new stake in shares of Amarin in the fourth quarter valued at $50,000. Stonepine Capital Management LLC acquired a new stake in shares of Amarin in the fourth quarter worth $55,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Amarin during the fourth quarter valued at $68,000. 22.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMRN has been the subject of several research analyst reports. StockNews.com assumed coverage on shares of Amarin in a report on Wednesday, April 16th. They issued a "sell" rating for the company. The Goldman Sachs Group decreased their price objective on shares of Amarin from $20.00 to $7.00 and set a "sell" rating for the company in a report on Thursday, April 17th.

Amarin Price Performance

Shares of AMRN traded up $0.22 during midday trading on Thursday, reaching $10.98. The stock had a trading volume of 80,832 shares, compared to its average volume of 74,214. The company has a market capitalization of $225.46 million, a P/E ratio of -122.00 and a beta of 1.38. The firm's 50 day moving average price is $9.54 and its 200-day moving average price is $10.36. Amarin has a 52 week low of $7.08 and a 52 week high of $20.60.

Amarin (NASDAQ:AMRN - Get Free Report) last issued its quarterly earnings results on Wednesday, March 12th. The biopharmaceutical company reported ($2.40) EPS for the quarter, missing the consensus estimate of ($1.20) by ($1.20). Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. The business had revenue of $62.31 million during the quarter, compared to the consensus estimate of $32.37 million. On average, equities analysts forecast that Amarin will post -0.15 earnings per share for the current 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.