Amarin Co. plc (NASDAQ:AMRN) Short Interest Up 7.1% in March

Amarin Co. plc (NASDAQ:AMRN - Get Free Report) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 18,190,000 shares, a growth of 7.1% from the February 29th total of 16,990,000 shares. Based on an average daily volume of 2,310,000 shares, the days-to-cover ratio is currently 7.9 days.

Amarin Price Performance

Shares of AMRN stock traded up $0.11 on Tuesday, reaching $0.99. 4,759,544 shares of the company were exchanged, compared to its average volume of 2,217,210. Amarin has a one year low of $0.65 and a one year high of $1.50. The company has a market cap of $406.56 million, a price-to-earnings ratio of -7.07 and a beta of 1.98. The company has a 50-day moving average of $1.07 and a 200-day moving average of $0.93.

Amarin (NASDAQ:AMRN - Get Free Report) last posted its earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.04. Amarin had a negative net margin of 19.26% and a negative return on equity of 10.47%. The company had revenue of $74.71 million for the quarter, compared to analyst estimates of $72.46 million. As a group, sell-side analysts predict that Amarin will post -0.14 EPS for the current year.

Institutional Investors Weigh In On Amarin

Institutional investors and hedge funds have recently made changes to their positions in the business. Morgan Stanley increased its stake in Amarin by 289.6% in the 4th quarter. Morgan Stanley now owns 22,027,895 shares of the biopharmaceutical company's stock valued at $26,654,000 after buying an additional 16,373,362 shares during the last quarter. Millennium Management LLC increased its stake in Amarin by 292.2% in the 4th quarter. Millennium Management LLC now owns 6,923,801 shares of the biopharmaceutical company's stock valued at $8,378,000 after buying an additional 5,158,279 shares during the last quarter. Two Sigma Investments LP increased its stake in Amarin by 106.1% in the 4th quarter. Two Sigma Investments LP now owns 4,165,318 shares of the biopharmaceutical company's stock valued at $5,040,000 after buying an additional 2,144,371 shares during the last quarter. State Street Corp increased its stake in Amarin by 438.8% in the 1st quarter. State Street Corp now owns 1,913,769 shares of the biopharmaceutical company's stock valued at $2,871,000 after buying an additional 1,558,604 shares during the last quarter. Finally, Stadium Capital Management LLC increased its stake in Amarin by 227.2% in the 3rd quarter. Stadium Capital Management LLC now owns 1,890,097 shares of the biopharmaceutical company's stock valued at $1,739,000 after buying an additional 1,312,525 shares during the last quarter. Institutional investors and hedge funds own 22.25% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald reissued an "overweight" rating on shares of Amarin in a research report on Friday, January 12th. Two 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 company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price 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. It 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.