Highly unusual options activity was spotted in the stock of NASDAQ:AMRN on fridays which in turn coincides with a upcoming FDA hearing scheduled for friday the 31st may. The FDA is holding a public hearing on May 31 to discuss potential regulation for cannabis products. The chart of amrn is also setting bullish pre the event, as buyers have returned after the post earnings profit taking. This really does look like a great trade with a good RR.
ANALYSTS AVERAGE PRICE TARGET $33 ANALYSTS AVERAGE RECOMMENDATION BUT SHORT INTEREST 8.8%
COMPANY PROFILE Amarin Corp. Plc is a biopharmaceutical company, which focuses on the commercialization and development of therapeutics for cardiovascular health. Its product development program leverages its experience in lipid science and the potential therapeutic benefits of polyunsaturated fatty acids. It has developed and markets Vascepa capsules through wholesale. The company was founded by Geoffrey W. Guy on March 1, 1989 and is headquartered in Dublin, Ireland.