Short Interest in Amryt Pharma plc (NASDAQ:AMYT) Declines By 17.6%

Amryt Pharma plc (NASDAQ:AMYT – Get Rating) was the target of a large drop in short interest in April. As of April 15th, there was short interest totalling 71,100 shares, a drop of 17.6% from the March 31st total of 86,300 shares. Based on an average daily volume of 144,300 shares, the short-interest ratio is currently 0.5 days.

Shares of AMYT opened at $8.48 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.80 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average price is $7.83 and its 200 day moving average price is $9.46. Amryt Pharma has a 52 week low of $5.61 and a 52 week high of $13.45.

Amryt Pharma (NASDAQ:AMYT – Get Rating) last released its earnings results on Wednesday, March 9th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.29. The firm had revenue of $54.83 million during the quarter, compared to analysts’ expectations of $56.85 million. Amryt Pharma had a negative net margin of 8.17% and a positive return on equity of 4.07%. As a group, equities research analysts anticipate that Amryt Pharma will post -0.17 earnings per share for the current year.

A number of research firms recently weighed in on AMYT. Canaccord Genuity Group lowered their price target on shares of Amryt Pharma from $40.00 to $19.00 in a report on Tuesday, March 1st. Maxim Group lowered their price target on shares of Amryt Pharma from $27.00 to $18.00 in a report on Tuesday, March 1st. Zacks Investment Research lowered shares of Amryt Pharma from a “hold” rating to a “sell” rating in a report on Thursday, February 24th. HC Wainwright decreased their price objective on shares of Amryt Pharma from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, March 10th. Finally, SVB Leerink lifted their price target on shares of Amryt Pharma from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday, March 10th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $22.00.

Institutional investors have recently made changes to their positions in the business. Morgan Stanley increased its holdings in Amryt Pharma by 4,011.8% in the 2nd quarter. Morgan Stanley now owns 3,125 shares of the company’s stock valued at $38,000 after buying an additional 3,049 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Amryt Pharma in the 3rd quarter worth about $133,000. Citadel Advisors LLC bought a new stake in shares of Amryt Pharma in the 2nd quarter worth about $135,000. Renaissance Technologies LLC bought a new stake in shares of Amryt Pharma in the 4th quarter worth about $193,000. Finally, Trexquant Investment LP bought a new stake in shares of Amryt Pharma in the 3rd quarter worth about $231,000. 56.52% of the stock is currently owned by hedge funds and other institutional investors.

About Amryt Pharma (Get Rating)

Amryt Pharma plc, a commercial-stage biopharmaceutical company, focuses on acquiring, developing, and commercializing various treatments to help improve the lives of patients with rare and orphan diseases. The company provides metreleptin, an adjunct to diet as replacement therapy to treat the complications of leptin deficiency in patients with congenital or acquired generalized lipodystrophy; oral octreotide, a long-term maintenance therapy in acromegaly patients; and lomitapide, an adjunct to a low-fat diet and other lipid-lowering medicinal products for adults with the rare cholesterol disorder.

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