Amarin Corp Plc (AMRN)

[Birdbrain Ideas]

Although I picked up another 2,000 shares today, I don't mind the share price staying around a dollar right now. It is in all of our interests for Amarin to be able to buy back as many shares as possible with its $50 million. And the time when the company can start its buyback is probably just weeks away.

I also think that if any earnings this year are going to be terrible, it'll be this quarter. The clock was reset as the year started when it comes to Amarin's exclusive deals with some entities that has protected its share of the market. And it's also possible that it had to drop its price a lot at the start of the year, as happened a year ago. Then I still worry that there will be those surprising $10 million charges to fix inventory. I also think that the company will find it in its interests to stack the bad stuff in the first quarter so that the share price can take one last hit right before the company jumps in and starts buying back shares.

So I'm lowering my expectations for first quarter earnings and saving a little share buying firepower in the event we get the earnings disappointment that is always possible in quarter one.