Zacks: Brokerages Anticipate Amarin Co. plc (AMRN) Will Announce Earnings of -$0.04 Per Share

Brokerages expect that Amarin Co. plc (NASDAQ:AMRN) will post earnings per share (EPS) of ($0.04) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Amarin’s earnings. The lowest EPS estimate is ($0.06) and the highest is ($0.03). Amarin also reported earnings per share of ($0.04) in the same quarter last year. The company is expected to issue its next earnings report on Tuesday, February 27th.

On average, analysts expect that Amarin will report full-year earnings of ($0.22) per share for the current fiscal year, with EPS estimates ranging from ($0.22) to ($0.20). For the next fiscal year, analysts forecast that the firm will report earnings of ($0.02) per share, with EPS estimates ranging from ($0.11) to $0.19. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Amarin.

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

Several research analysts have recently commented on AMRN shares. Zacks Investment Research downgraded Amarin from a “buy” rating to a “hold” rating in a report on Monday, August 7th. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Amarin in a report on Wednesday, August 9th. ValuEngine downgraded Amarin from a “hold” rating to a “sell” rating in a report on Friday, August 11th. BidaskClub downgraded Amarin from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, Cantor Fitzgerald set a $10.00 target price on Amarin and gave the stock a “buy” rating in a report on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Amarin has a consensus rating of “Hold” and a consensus price target of $7.75.

In other Amarin news, insider Steven B. Ketchum sold 63,479 shares of the company’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $3.48, for a total transaction of $220,906.92. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.72% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in Amarin by 27.1% during the 1st quarter. JPMorgan Chase & Co. now owns 35,590 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 7,580 shares in the last quarter. Westside Investment Management Inc. lifted its holdings in Amarin by 1.1% during the 2nd quarter. Westside Investment Management Inc. now owns 27,350 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 300 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Amarin by 15.2% during the 2nd quarter. Wells Fargo & Company MN now owns 37,801 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 5,000 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Amarin during the 3rd quarter worth $226,000. Finally, Stevens Capital Management LP acquired a new position in Amarin during the 3rd quarter worth $229,000. 40.13% of the stock is currently owned by hedge funds and other institutional investors.

Amarin (NASDAQ AMRN) opened at $3.20 on Monday. The company has a debt-to-equity ratio of -1.48, a quick ratio of 1.32 and a current ratio of 1.63. Amarin has a 1-year low of $2.81 and a 1-year high of $4.47.

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About Amarin

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.

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