Amarin Co. plc (AMRN) Short Interest Update
Amarin Co. plc (NASDAQ:AMRN) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 17,514,524 shares, a growth of 13.6% from the February 15th total of 15,412,976 shares. Based on an average daily volume of 10,037,142 shares, the short-interest ratio is presently 1.7 days. Approximately 6.1% of the company’s stock are short sold.
A number of research analysts recently weighed in on the stock. BidaskClub upgraded shares of Amarin from a “hold” rating to a “buy” rating in a report on Tuesday, November 27th. Cantor Fitzgerald set a $35.00 price objective on shares of Amarin and gave the company a “buy” rating in a report on Friday, December 28th. Citigroup dropped their price objective on shares of Amarin to $20.00 in a report on Tuesday, January 8th. Zacks Investment Research upgraded shares of Amarin from a “sell” rating to a “hold” rating in a report on Wednesday, January 23rd. Finally, SunTrust Banks restated a “buy” rating on shares of Amarin in a report on Monday, January 7th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $33.20.
NASDAQ AMRN opened at $20.46 on Thursday. Amarin has a 52 week low of $2.35 and a 52 week high of $23.33. The company has a market cap of $6.88 billion, a price-to-earnings ratio of -52.46 and a beta of 1.16.
In related news, General Counsel Joseph T. Kennedy sold 1,040,194 shares of Amarin stock in a transaction that occurred on Thursday, January 24th. The shares were sold at an average price of $17.77, for a total value of $18,484,247.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Wayne Kalb sold 200,000 shares of Amarin stock in a transaction that occurred on Wednesday, January 9th. The shares were sold at an average price of $15.26, for a total transaction of $3,052,000.00. The disclosure for this sale can be found here. Insiders sold 2,841,072 shares of company stock valued at $49,748,088 in the last 90 days. Company insiders own 4.08% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Amarin by 0.3% during the 3rd quarter. BlackRock Inc. now owns 3,403,454 shares of the biopharmaceutical company’s stock worth $55,374,000 after acquiring an additional 11,024 shares in the last quarter. Marshall Wace North America L.P. grew its holdings in Amarin by 175.9% during the 3rd quarter. Marshall Wace North America L.P. now owns 605,553 shares of the biopharmaceutical company’s stock worth $9,852,000 after acquiring an additional 386,032 shares in the last quarter. Claraphi Advisory Network LLC grew its holdings in Amarin by 5.8% during the 3rd quarter. Claraphi Advisory Network LLC now owns 55,521 shares of the biopharmaceutical company’s stock worth $903,000 after acquiring an additional 3,030 shares in the last quarter. Baker BROS. Advisors LP grew its holdings in Amarin by 50.3% during the 3rd quarter. Baker BROS. Advisors LP now owns 34,069,509 shares of the biopharmaceutical company’s stock worth $554,311,000 after acquiring an additional 11,400,000 shares in the last quarter. Finally, Credit Suisse AG acquired a new position in shares of Amarin in the 3rd quarter valued at $198,000. Institutional investors own 43.43% of the company’s stock.
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Amarin Company Profile
Amarin Corporation plc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States. The company's lead product is Vascepa, a prescription-only omega-3 fatty acid capsule, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.
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