Equities analysts predict that Amarin Co. plc (NASDAQ:AMRN) will post sales of $92.07 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Amarin’s earnings. The highest sales estimate is $95.30 million and the lowest is $89.90 million. Amarin posted sales of $52.64 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 74.9%. The firm is expected to issue its next earnings report on Wednesday, August 7th.
According to Zacks, analysts expect that Amarin will report full-year sales of $368.97 million for the current financial year, with estimates ranging from $352.90 million to $379.00 million. For the next year, analysts forecast that the firm will report sales of $589.90 million, with estimates ranging from $502.30 million to $663.40 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Amarin.
Amarin (NASDAQ:AMRN) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Amarin had a negative return on equity of 450.07% and a negative net margin of 45.16%. The business had revenue of $73.30 million during the quarter, compared to the consensus estimate of $67.30 million. During the same period last year, the company earned ($0.07) EPS. The company’s revenue for the quarter was up 67.0% on a year-over-year basis.
A number of analysts have issued reports on the company. BidaskClub raised Amarin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 27th. HC Wainwright reaffirmed a “buy” rating and issued a $51.00 target price on shares of Amarin in a research note on Thursday, January 17th. Stifel Nicolaus initiated coverage on Amarin in a research report on Thursday, March 21st. They set a “buy” rating and a $27.00 price objective for the company. Finally, Zacks Investment Research raised Amarin from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Amarin presently has an average rating of “Buy” and an average target price of $30.43.
In related news, insider Steven B. Ketchum sold 55,543 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $21.85, for a total transaction of $1,213,614.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven B. Ketchum sold 9,541 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $18.67, for a total value of $178,130.47. The disclosure for this sale can be found here. Insiders have sold a total of 907,136 shares of company stock valued at $18,825,115 over the last three months. Corporate insiders own 2.75% of the company’s stock.
A number of institutional investors have recently made changes to their positions in AMRN. Benjamin F. Edwards & Company Inc. purchased a new position in Amarin during the 4th quarter valued at about $34,000. Neuburgh Advisers LLC purchased a new position in Amarin during the 4th quarter valued at about $36,000. Global Retirement Partners LLC boosted 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 valued at $36,000 after acquiring an additional 1,899 shares during the period. Lindbrook Capital LLC purchased a new position in Amarin during the 4th quarter valued at about $40,000. Finally, Financial Advocates Investment Management boosted its holdings in Amarin by 45.0% during the 4th quarter. Financial Advocates Investment Management now owns 29,000 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 9,000 shares during the period. Institutional investors own 48.71% of the company’s stock.
Shares of AMRN traded down $0.04 during midday trading on Monday, reaching $17.41. The company had a trading volume of 114,953 shares, compared to its average volume of 7,818,549. Amarin has a 1-year low of $2.35 and a 1-year high of $23.33. The company has a market capitalization of $5.61 billion, a PE ratio of -44.72 and a beta of 1.15. The company has a quick ratio of 1.84, a current ratio of 2.20 and a debt-to-equity ratio of 0.30.
Amarin Company Profile
Amarin Corporation plc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States. The company's lead product is Vascepa, a prescription-only omega-3 fatty acid capsule, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.
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