BEDMINSTER, NJ ( TheStreet) -- Amarin (AMRN) bulls are finding it more difficult to explain away the stock's weakness. Some of the rationalizations for weak Vascepa prescription numbers are bordering on the bizarre.
Steve Rosenman, the uber-est of Amarin fans, took to his Seeking Alpha "Instablog" Wednesday to insist that real Vascepa prescriptions are likely 300-400 times the number being reported by IMS Health. How does Rosenman know this? Because people are spending time on Amarin's Vascepasavings.com web site.
Using web analytics you will learn that 47% of visitors to the site stay there and visit multiple pages. They visit for at least 2 minutes. These metrics far exceed industry averages.If you further look at the hit count, you can make some pretty interesting assumptions, like if just 5% of visitors to the page signed up for Vascepa savings, you add 500 more prescriptions per week. 5% is pretty low for such highly targeted messaging and for something that will be free. Kick that to 30% and you see where I'm heading. Actual scripts in the 300-400X area (vs. IMS) is likely what is going on now. I'm looking forward to hearing Amarin executives boast about sticky web eyeballs on their next conference call. -- Reported by Adam Feuerstein in Boston. Follow @AdamFeuerstein