Amarin Co. plc (AMRN) Expected to Post Earnings of -$0.08 Per Share

Equities analysts expect Amarin Co. plc (NASDAQ:AMRN) to post earnings per share (EPS) of ($0.08) for the current quarter, according to Zacks. Three analysts have provided estimates for Amarin’s earnings. Amarin also reported earnings per share of ($0.08) in the same quarter last year. The company is scheduled to issue its next earnings report on Tuesday, February 26th.

According to Zacks, analysts expect that Amarin will report full year earnings of ($0.33) per share for the current year. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.18 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Amarin.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.08) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.01. The firm had revenue of $55.00 million during the quarter, compared to the consensus estimate of $60.63 million. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) EPS.

Several equities research analysts recently commented on the company. BidaskClub raised Amarin from a “hold” rating to a “buy” rating in a research note on Tuesday. HC Wainwright reissued a “buy” rating and issued a $51.00 price target (up previously from $31.00) on shares of Amarin in a research note on Monday, November 12th. SunTrust Banks boosted their price target on Amarin to $30.00 and gave the company a “reduce” rating in a research note on Monday, November 5th. Citigroup cut Amarin from a “buy” rating to a “neutral” rating and boosted their price target for the company from $25.00 to $28.00 in a research note on Friday, November 2nd. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $35.00 price target on shares of Amarin in a research note on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $31.80.

Shares of NASDAQ AMRN traded up $0.71 during trading hours on Friday, hitting $18.00. The stock had a trading volume of 6,336,935 shares, compared to its average volume of 13,765,298. The stock has a market cap of $5.05 billion, a price-to-earnings ratio of -72.00 and a beta of 0.70. Amarin has a 52 week low of $2.35 and a 52 week high of $23.33.

In other Amarin news, insider Steven B. Ketchum sold 879,241 shares of the company’s stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $11.10, for a total transaction of $9,759,575.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Joseph T. Kennedy sold 23,306 shares of the company’s stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $17.81, for a total value of $415,079.86. The disclosure for this sale can be found here. Insiders have sold 3,664,108 shares of company stock valued at $47,118,016 in the last ninety days. Company insiders own 4.08% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Claraphi Advisory Network LLC boosted its position in Amarin by 5.8% during the third quarter. Claraphi Advisory Network LLC now owns 55,521 shares of the biopharmaceutical company’s stock worth $903,000 after purchasing an additional 3,030 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in Amarin during the third quarter worth approximately $3,254,000. FMR LLC boosted its position in Amarin by 57.7% during the second quarter. FMR LLC now owns 5,335,221 shares of the biopharmaceutical company’s stock worth $16,486,000 after purchasing an additional 1,952,118 shares during the period. GSA Capital Partners LLP boosted its position in Amarin by 66.3% during the second quarter. GSA Capital Partners LLP now owns 162,800 shares of the biopharmaceutical company’s stock worth $503,000 after purchasing an additional 64,900 shares during the period. Finally, Moody Aldrich Partners LLC bought a new stake in Amarin during the third quarter worth approximately $1,312,000. 36.83% of the stock is owned by hedge funds and other institutional investors.

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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