Brokerages forecast that Amarin Co. plc (NASDAQ:AMRN) will report ($0.03) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Amarin’s earnings, with the highest EPS estimate coming in at ($0.02) and the lowest estimate coming in at ($0.03). Amarin reported earnings per share of ($0.10) during the same quarter last year, which would indicate a positive year-over-year growth rate of 70%. The company is expected to issue its next quarterly earnings report on Wednesday, August 7th.
According to Zacks, analysts expect that Amarin will report full-year earnings of ($0.06) per share for the current year. For the next year, analysts anticipate that the business will report earnings of $0.31 per share, with EPS estimates ranging from $0.16 to $0.45. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Amarin.
Amarin (NASDAQ:AMRN) last posted its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.04. Amarin had a negative net margin of 45.16% and a negative return on equity of 450.07%. The firm had revenue of $73.30 million for the quarter, compared to the consensus estimate of $67.30 million. During the same quarter in the previous year, the company earned ($0.07) earnings per share. The business’s revenue was up 67.0% compared to the same quarter last year.
A number of brokerages have issued reports on AMRN. HC Wainwright set a $51.00 price objective on Amarin and gave the company a “buy” rating in a report on Wednesday. Roth Capital began coverage on Amarin in a report on Monday, June 17th. They set a “buy” rating and a $31.00 price objective for the company. BidaskClub raised Amarin from a “hold” rating to a “buy” rating in a report on Wednesday, February 27th. Stifel Nicolaus began coverage on Amarin in a report on Thursday, March 21st. They set a “buy” rating and a $27.00 price objective for the company. Finally, Zacks Investment Research cut Amarin from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 8th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $30.50.
Shares of NASDAQ AMRN traded up $0.12 during midday trading on Wednesday, reaching $18.29. 4,011,031 shares of the company traded hands, compared to its average volume of 7,086,544. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of -46.90 and a beta of 1.27. The business’s 50-day moving average price is $17.87. Amarin has a 12 month low of $2.35 and a 12 month high of $23.33. The company has a current ratio of 2.20, a quick ratio of 1.84 and a debt-to-equity ratio of 0.30.
In related news, Director Joseph S. Zakrzewski sold 100,000 shares of Amarin stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $19.02, for a total value of $1,902,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven B. Ketchum sold 9,542 shares of Amarin stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $20.06, for a total value of $191,412.52. The disclosure for this sale can be found here. Insiders sold 274,687 shares of company stock valued at $5,215,288 over the last ninety days. 2.75% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in AMRN. Wealthcare Advisory Partners LLC bought a new stake in Amarin during the 1st quarter worth about $42,000. University of Texas Texas AM Investment Managment Co. bought a new stake in Amarin during the 1st quarter worth about $44,000. Winslow Evans & Crocker Inc. raised its holdings in Amarin by 150.0% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 2,500 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 1,500 shares during the last quarter. Global Retirement Partners LLC raised its holdings in Amarin by 266.3% during the 4th quarter. Global Retirement Partners LLC now owns 2,612 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 1,899 shares during the last quarter. Finally, Neuburgh Advisers LLC bought a new stake in Amarin during the 4th quarter worth about $36,000. 47.62% of the stock is owned by institutional investors and hedge funds.
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.
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