Amarin Co. plc (AMRN) Expected to Post Earnings of -$0.09 Per Share

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Equities research analysts forecast that Amarin Co. plc (NASDAQ:AMRN) will report ($0.09) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Amarin’s earnings. The highest EPS estimate is ($0.08) and the lowest is ($0.10). Amarin posted earnings per share of ($0.04) during the same quarter last year, which would suggest a negative year-over-year growth rate of 125%. The business is expected to announce its next earnings report on Wednesday, November 7th.

According to Zacks, analysts expect that Amarin will report full-year earnings of ($0.42) per share for the current year, with EPS estimates ranging from ($0.53) to ($0.36). For the next year, analysts expect that the company will post earnings of ($0.13) per share, with EPS estimates ranging from ($0.44) to $0.12. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Amarin.

Amarin (NASDAQ:AMRN) last announced its earnings results on Wednesday, August 1st. The biopharmaceutical company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.03). The company had revenue of $52.64 million for the quarter, compared to analyst estimates of $54.88 million. During the same period last year, the firm earned ($0.04) EPS. The company’s revenue was up 16.4% compared to the same quarter last year.

AMRN has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Amarin from a “hold” rating to a “buy” rating in a research note on Monday, June 18th. ValuEngine cut shares of Amarin from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Cantor Fitzgerald set a $10.00 price target on shares of Amarin and gave the company a “buy” rating in a research note on Wednesday, July 18th. Finally, Zacks Investment Research cut shares of Amarin from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $21.75.

AMRN traded down $0.36 during trading hours on Monday, hitting $19.29. 7,759,400 shares of the company’s stock were exchanged, compared to its average volume of 5,781,756. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of -75.88 and a beta of 0.32. The company has a current ratio of 1.43, a quick ratio of 1.13 and a debt-to-equity ratio of -1.25. Amarin has a 1-year low of $2.35 and a 1-year high of $21.05.

In other news, General Counsel Joseph T. Kennedy sold 50,249 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $16.81, for a total transaction of $844,685.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph S. Zakrzewski sold 500,000 shares of the firm’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $10.60, for a total transaction of $5,300,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,975,800 shares of company stock valued at $33,975,779. Corporate insiders own 4.08% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Amarin by 57.7% during the 2nd quarter. FMR LLC now owns 5,335,221 shares of the biopharmaceutical company’s stock worth $16,486,000 after buying an additional 1,952,118 shares during the last quarter. Rock Springs Capital Management LP lifted its stake in shares of Amarin by 1.3% during the 1st quarter. Rock Springs Capital Management LP now owns 4,000,000 shares of the biopharmaceutical company’s stock worth $12,040,000 after buying an additional 50,000 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Amarin by 1.4% during the 2nd quarter. BlackRock Inc. now owns 3,392,430 shares of the biopharmaceutical company’s stock worth $10,482,000 after buying an additional 46,957 shares during the last quarter. Sofinnova Ventures Inc acquired a new stake in shares of Amarin during the 1st quarter worth about $9,998,000. Finally, Alkeon Capital Management LLC acquired a new stake in shares of Amarin during the 1st quarter worth about $5,869,000. Institutional investors own 38.27% of the company’s stock.

Amarin Company Profile

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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