Short Interest in Amarin Co. plc (NASDAQ:AMRN) Expands By 18.3%

Amarin Co. plc (NASDAQ:AMRN - Get Free Report) was the target of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 558,400 shares, an increase of 18.3% from the April 30th total of 472,000 shares. Based on an average daily volume of 97,000 shares, the short-interest ratio is currently 5.8 days. Approximately 2.7% of the shares of the company are short sold.

Institutional Investors Weigh In On Amarin

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC increased its holdings in shares of Amarin by 112.3% in the first quarter. Acadian Asset Management LLC now owns 3,791,515 shares of the biopharmaceutical company's stock worth $1,685,000 after purchasing an additional 2,005,713 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Amarin by 449,522.1% in the first quarter. Jones Financial Companies Lllp now owns 1,811,977 shares of the biopharmaceutical company's stock worth $815,000 after purchasing an additional 1,811,574 shares during the period. Waterfront Wealth Inc. increased its holdings in shares of Amarin by 181.4% in the fourth quarter. Waterfront Wealth Inc. now owns 2,481,766 shares of the biopharmaceutical company's stock worth $1,204,000 after purchasing an additional 1,599,956 shares during the period. AXA S.A. bought a new position in shares of Amarin in the fourth quarter worth $480,000. Finally, Raymond James Financial Inc. bought a new position in shares of Amarin in the fourth quarter worth $343,000. Institutional investors own 22.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wall Street Zen upgraded Amarin from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th. The Goldman Sachs Group dropped their price objective on Amarin from $20.00 to $7.00 and set a "sell" rating on the stock in a research note on Thursday, April 17th.

Amarin Price Performance

AMRN stock remained flat at $11.85 during midday trading on Thursday. 50,224 shares of the company's stock were exchanged, compared to its average volume of 74,581. The firm has a 50 day moving average price of $10.24 and a 200-day moving average price of $10.27. Amarin has a 1-year low of $7.08 and a 1-year high of $16.60. The stock has a market capitalization of $245.38 million, a price-to-earnings ratio of -131.67 and a beta of 0.71.

Amarin (NASDAQ:AMRN - Get Free Report) last issued its earnings results on Wednesday, May 7th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. On average, sell-side analysts forecast that Amarin will post -0.15 EPS for the current fiscal 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.