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

Amarin Co. plc (NASDAQ:AMRN - Get Free Report) saw a significant drop in short interest in March. As of March 15th, there was short interest totalling 10,840,000 shares, a drop of 35.4% from the February 28th total of 16,790,000 shares. Approximately 2.7% of the shares of the company are short sold. Based on an average trading volume of 1,580,000 shares, the days-to-cover ratio is currently 6.9 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Amarin in a research note on Monday. They set a "sell" rating on the stock.

Amarin Stock Performance

Amarin stock traded down $0.00 during trading on Wednesday, reaching $0.44. The company had a trading volume of 517,086 shares, compared to its average volume of 1,383,005. The firm's 50-day simple moving average is $0.53 and its 200 day simple moving average is $0.54. The firm has a market capitalization of $180.29 million, a PE ratio of -4.88 and a beta of 1.82. Amarin has a 1-year low of $0.35 and a 1-year high of $1.11.

Shares of Amarin are set to reverse split before the market opens on Friday, April 11th. The 1-20 reverse split was announced on Wednesday, March 12th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, April 10th.

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Amarin (NASDAQ:AMRN - Get Free Report) last announced its quarterly earnings data on Wednesday, March 12th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.06). Amarin had a negative net margin of 16.33% and a negative return on equity of 7.22%. The firm had revenue of $62.31 million during the quarter, compared to analysts' expectations of $32.37 million. Analysts anticipate that Amarin will post -0.15 EPS for the current year.

Institutional Investors Weigh In On Amarin

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Stonepine Capital Management LLC acquired a new stake in shares of Amarin in the 4th quarter worth $55,000. BNP Paribas Financial Markets raised its position in shares of Amarin by 3.0% during the 4th quarter. BNP Paribas Financial Markets now owns 1,340,920 shares of the biopharmaceutical company's stock valued at $650,000 after buying an additional 39,452 shares during the period. AXA S.A. acquired a new position in Amarin in the fourth quarter valued at approximately $480,000. Mercer Global Advisors Inc. ADV purchased a new position in Amarin in the fourth quarter worth approximately $171,000. Finally, Jane Street Group LLC acquired a new stake in Amarin during the fourth quarter worth $130,000. Institutional investors and hedge funds own 22.25% of the company's stock.

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.