Brokerages expect that Amarin Co. plc (NASDAQ:AMRN) will announce $61.50 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Amarin’s earnings, with the highest sales estimate coming in at $63.60 million and the lowest estimate coming in at $59.70 million. Amarin reported sales of $47.36 million during the same quarter last year, which indicates a positive year over year growth rate of 29.9%. The firm is scheduled to issue its next earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that Amarin will report full year sales of $228.93 million for the current financial year, with estimates ranging from $224.80 million to $234.60 million. For the next fiscal year, analysts forecast that the firm will post sales of $396.60 million per share, with estimates ranging from $283.10 million to $457.50 million. Zacks Investment Research’s 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, August 1st. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The company had revenue of $52.64 million during the quarter, compared to analyst estimates of $54.88 million. During the same quarter in the prior year, the company posted ($0.04) EPS. Amarin’s revenue for the quarter was up 16.4% on a year-over-year basis.
A number of equities research analysts recently issued reports on the company. BidaskClub raised Amarin from a “hold” rating to a “buy” rating in a research note on Monday, June 18th. ValuEngine raised Amarin from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Zacks Investment Research lowered Amarin from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Finally, Cantor Fitzgerald set a $10.00 target price on Amarin and gave the company a “buy” rating in a research note on Tuesday, June 12th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Amarin currently has an average rating of “Buy” and an average price target of $8.00.
In related news, General Counsel Joseph T. Kennedy sold 26,942 shares of the company’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $3.00, for a total value of $80,826.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.08% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of AMRN. DekaBank Deutsche Girozentrale lifted its stake in shares of Amarin by 107.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 171,000 shares of the biopharmaceutical company’s stock worth $511,000 after purchasing an additional 88,500 shares during the period. Private Advisor Group LLC lifted 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 purchasing an additional 28,929 shares during the period. Claraphi Advisory Network LLC lifted 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 purchasing an additional 73,738 shares during the period. Opaleye Management Inc. lifted its stake in shares of Amarin by 102.9% during the 1st quarter. Opaleye Management Inc. now owns 1,745,000 shares of the biopharmaceutical company’s stock worth $5,252,000 after purchasing an additional 885,000 shares during the period. Finally, Eversept Partners LLC purchased a new position in shares of Amarin during the 1st quarter worth $753,000. 38.28% of the stock is currently owned by institutional investors.
AMRN stock opened at $3.24 on Thursday. Amarin has a 1 year low of $2.35 and a 1 year high of $4.60. The company has a debt-to-equity ratio of -1.25, a quick ratio of 1.13 and a current ratio of 1.43. The company has a market capitalization of $923.72 million, a P/E ratio of -12.82 and a beta of 0.94.
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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