Amarin Corporation PLC Forecasted to Earn FY2020 Earnings of $0.60 Per Share (AMRN)

Amarin Corporation PLC (NASDAQ:AMRN) – Equities researchers at SunTrust Banks reduced their FY2020 earnings estimates for Amarin Corporation PLC in a research report issued on Monday. SunTrust Banks analyst J. Boris now expects that the biopharmaceutical company will earn $0.60 per share for the year, down from their previous estimate of $0.61.

Amarin Corporation PLC (NASDAQ:AMRN) last released its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $47.10 million during the quarter, compared to the consensus estimate of $45.85 million. During the same period in the prior year, the business earned ($0.08) EPS. The company’s revenue for the quarter was up 45.4% compared to the same quarter last year.

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Several other equities analysts have also commented on AMRN. BidaskClub raised shares of Amarin Corporation PLC from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Zacks Investment Research raised shares of Amarin Corporation PLC from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a research report on Tuesday, July 11th. Jefferies Group LLC reaffirmed a “buy” rating and set a $7.00 price target on shares of Amarin Corporation PLC in a research report on Thursday, August 3rd. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Amarin Corporation PLC in a research report on Thursday, August 3rd. Finally, ValuEngine lowered shares of Amarin Corporation PLC from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $7.75.

Amarin Corporation PLC (NASDAQ AMRN) traded up $0.13 during trading hours on Thursday, hitting $3.60. 1,287,511 shares of the stock were exchanged, compared to its average volume of 1,217,773.

In other news, insider Steven B. Ketchum sold 63,479 shares of the stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $3.48, for a total value of $220,906.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.72% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMRN. Wells Fargo & Company MN grew its holdings in Amarin Corporation PLC by 4.8% during the 1st quarter. Wells Fargo & Company MN now owns 32,801 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 1,500 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Amarin Corporation PLC by 27.1% during the 1st quarter. JPMorgan Chase & Co. now owns 35,590 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 7,580 shares during the last quarter. Westside Investment Management Inc. boosted its stake in Amarin Corporation PLC by 1.1% during the 2nd quarter. Westside Investment Management Inc. now owns 27,350 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 300 shares during the last quarter. Perkins Capital Management Inc. boosted its stake in Amarin Corporation PLC by 20.3% during the 2nd quarter. Perkins Capital Management Inc. now owns 41,500 shares of the biopharmaceutical company’s stock valued at $167,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Stevens Capital Management LP bought a new position in Amarin Corporation PLC during the 3rd quarter valued at $229,000. 37.76% of the stock is owned by institutional investors and hedge funds.

About Amarin Corporation PLC

Amarin Corporation plc is a biopharmaceutical company with operations in lipid science focused on the commercialization and development of therapeutics for cardiovascular health. The Company operates through the development and commercialization of Vascepa segment. The Company’s lead product, Vascepa (icosapent ethyl) capsule, is approved by the United States Food and Drug Administration (FDA) for use as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia.

Earnings History and Estimates for Amarin Corporation PLC (NASDAQ:AMRN)

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