Amarin Co. plc (NASDAQ:AMRN) Short Interest Up 20.3% in June

Amarin Co. plc (NASDAQ:AMRN) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 19,020,000 shares, a growth of 20.3% from the May 31st total of 15,810,000 shares. Based on an average daily volume of 1,490,000 shares, the short-interest ratio is currently 12.8 days.

Amarin Stock Performance

Shares of Amarin stock traded up $0.02 during trading hours on Tuesday, reaching $0.71. The company’s stock had a trading volume of 949,347 shares, compared to its average volume of 1,830,627. The company’s 50 day simple moving average is $0.81 and its 200 day simple moving average is $0.95. Amarin has a one year low of $0.63 and a one year high of $1.49. The stock has a market cap of $289.52 million, a P/E ratio of -5.88 and a beta of 1.95.

Amarin (NASDAQ:AMRN) last released its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. Amarin had a negative net margin of 18.96% and a negative return on equity of 9.48%. The firm had revenue of $56.52 million for the quarter, compared to analysts’ expectations of $51.34 million. During the same quarter last year, the company earned ($0.04) EPS. On average, sell-side analysts predict that Amarin will post -0.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AMRN has been the subject of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Amarin in a research report on Tuesday, June 18th. StockNews.com lowered shares of Amarin from a “buy” rating to a “hold” rating in a research note on Tuesday, June 25th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $1.08.

Hedge Funds Weigh In On Amarin

A number of institutional investors have recently modified their holdings of AMRN. GSA Capital Partners LLP boosted its stake in shares of Amarin by 74.4% in the 1st quarter. GSA Capital Partners LLP now owns 1,482,540 shares of the biopharmaceutical company’s stock valued at $1,321,000 after purchasing an additional 632,497 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Amarin by 104.8% during the 1st quarter. BNP Paribas Financial Markets now owns 932,173 shares of the biopharmaceutical company’s stock worth $830,000 after purchasing an additional 476,996 shares in the last quarter. Simplicity Wealth LLC bought a new position in shares of Amarin during the 1st quarter worth approximately $418,000. Hayek Kallen Investment Management grew its stake in shares of Amarin by 63.3% in the fourth 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. Finally, Gilliland Jeter Wealth Management LLC bought a new position in shares of Amarin in the fourth quarter valued at $64,000. Institutional investors own 22.25% of the company’s stock.

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.