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Amarin Shares Plunged: What You Need to Know

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of cardiovascular drug developer Amarin (Nasdaq: AMRN  ) skipped a beat today, falling as far as 12% on spiky trading.

So what: Amarin CEO Joseph Zakrzewski gave a speech at an analyst conference today, supposedly dropping the devastating tidbit that he's looking for partnerships more than buyout opportunities. Not having a transcript or a webcast available to back this claim up, I'd treat this as a rumor until further notice.

Now what: Even after this drop, Amarin's shares have nearly tripled in the last six months, and just about sextupled over the last year. That's mostly thanks to some positive drug trial reports -- and the buyout speculation that inevitably follows such incontrovertibly positive news. Even if Zakrzewski pooh-poohed the buyout angle today, CEOs deny these things all the time. If Pfizer (NYSE: PFE  ) and Merck (NYSE: MRK  ) were interested in Amarin's artery-uncloggers yesterday, I'd say they're still interested today.

Interested in more info on Amarin? Add it to your watchlist.

Fool contributor Anders Bylund holds no position in any of the companies discussed here. Motley Fool newsletter services have recommended buying shares of Pfizer. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool is investors writing for investors.

Read/Post Comments (4) | Recommend This Article (7)

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Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On June 06, 2011, at 5:08 PM, yazzbro wrote:

    God, everyone is so picky. So who cares if they are looking for a partnership instead of a buyout? In fact, AMRN share price would probably even go up beyond what a buyouts final price would be. Also take into consideration that the CEO is trying to get the most for his company. Throwing out a little rumor about wanting to go with a partner instead of being bought out might up the ante a little for getting someone to buy them out. I say he is bluffing. But, for investors to just up and bail on a rumor, come on. To all you suckers who just bailed on AMRN over a rumor. All I can say is thanks. I just bought more on the nice little dip you guys created.

  • Report this Comment On June 07, 2011, at 4:30 PM, UncleWhelo31 wrote:

    Hope your right there yazzbro...I got out at 17.24....a very nice tidy profit. The shares are only going one way at the moment chief..last time I checked they were 16.61

  • Report this Comment On June 08, 2011, at 10:02 AM, yazzbro wrote:

    Well UncleWhelo31 AMRN is dropping like a stone off the Grand Canyon. I got out at 16.25 and still a very nice profit seeing I have had it since it was around 4.00. So no complaints. But, just wondering how low it will go before I buy in again?. I say it goes down to the 13's before it stabilizes. It is funny how everyone bailed on it because of a rumor they heard about not seeking buyout opportunities. Something is fishy about what is happening with it.(No pun intended.) Perhaps the short sellers have gotten a hold of it.

  • Report this Comment On June 09, 2011, at 5:42 PM, sam2115 wrote:

    I listened to the webcast and you should too! Go to Amarin corporation and find it under the Investor tab/presentations.

    Joe remained positive throughout and was consistent with his previous talks.

    In fact, you might consider he said the opposite when he said the company might consider doing a specialist sales force but would need to partner to market to the GP / IM / DO larger markets which is sound strategy.

    I have been in the pharmaceutical industry for 39 years and I did not hear anything to be alarmed about

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AMRN $3.20 Up +0.04 +1.27%
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