Amarin Co. plc (AMRN) Expected to Announce Quarterly Sales of $59.10 Million

Equities research analysts expect Amarin Co. plc (NASDAQ:AMRN) to report sales of $59.10 million for the current quarter, Zacks reports. Three analysts have made estimates for Amarin’s earnings, with estimates ranging from $56.80 million to $63.50 million. Amarin reported sales of $45.24 million during the same quarter last year, which would suggest a positive year over year growth rate of 30.6%. The firm is scheduled to report its next quarterly earnings report on Wednesday, August 1st.

On average, analysts expect that Amarin will report full year sales of $236.67 million for the current fiscal year, with estimates ranging from $231.70 million to $245.80 million. For the next financial year, analysts expect that the business will report sales of $396.60 million per share, with estimates ranging from $283.10 million to $457.50 million. Zacks’ sales averages are an average based on a survey of research analysts that follow Amarin.

Amarin (NASDAQ:AMRN) last released its quarterly earnings results on Wednesday, May 2nd. The biopharmaceutical company reported ($0.08) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.08). The business had revenue of $43.80 million for the quarter, compared to analyst estimates of $43.75 million. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.08) EPS.

AMRN has been the topic of a number of recent research reports. Cantor Fitzgerald reissued a “buy” rating and issued a $10.00 target price on shares of Amarin in a research report on Thursday, April 12th. Zacks Investment Research lowered Amarin from a “hold” rating to a “sell” rating in a research report on Friday, March 2nd. ValuEngine lowered Amarin from a “hold” rating to a “sell” rating in a research report on Thursday, April 26th. BidaskClub raised Amarin from a “strong sell” rating to a “sell” rating in a research report on Friday, May 4th. Finally, HC Wainwright reissued a “buy” rating on shares of Amarin in a research report on Thursday, March 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Amarin has a consensus rating of “Buy” and an average target price of $7.75.

In other Amarin news, General Counsel Joseph T. Kennedy sold 26,942 shares of the firm’s stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $2.90, for a total value of $78,131.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.08% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of AMRN. Paloma Partners Management Co bought a new position in Amarin in the fourth quarter valued at approximately $141,000. Hoylecohen LLC bought a new position in shares of Amarin during the 4th quarter worth approximately $142,000. Private Advisor Group LLC boosted its stake in shares of Amarin by 81.8% during the 1st quarter. Private Advisor Group LLC now owns 64,293 shares of the biopharmaceutical company’s stock worth $194,000 after acquiring an additional 28,929 shares during the period. DRW Securities LLC boosted its stake in shares of Amarin by 45.1% during the 1st quarter. DRW Securities LLC now owns 80,400 shares of the biopharmaceutical company’s stock worth $242,000 after acquiring an additional 25,000 shares during the period. Finally, Claraphi Advisory Network LLC boosted its stake in shares of Amarin by 637.3% during the 1st quarter. Claraphi Advisory Network LLC now owns 85,309 shares of the biopharmaceutical company’s stock worth $257,000 after acquiring an additional 73,738 shares during the period. Hedge funds and other institutional investors own 42.51% of the company’s stock.

Amarin traded down $0.01, reaching $3.26, during midday trading on Monday, MarketBeat Ratings reports. The stock had a trading volume of 48,384 shares, compared to its average volume of 2,106,325. Amarin has a 1-year low of $2.66 and a 1-year high of $4.60. The firm has a market cap of $1.02 billion, a PE ratio of -13.16 and a beta of 0.81. The company has a debt-to-equity ratio of -2.30, a quick ratio of 1.45 and a current ratio of 1.74.

About Amarin

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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Earnings History and Estimates for Amarin (NASDAQ:AMRN)

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