Brokerages expect that Amarin Co. plc (NASDAQ:AMRN – Get Rating) will post ($0.06) earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Amarin’s earnings, with the highest EPS estimate coming in at ($0.03) and the lowest estimate coming in at ($0.10). Amarin posted earnings of $0.03 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 300%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Amarin will report full year earnings of ($0.22) per share for the current financial year, with EPS estimates ranging from ($0.33) to ($0.03). For the next fiscal year, analysts anticipate that the firm will report earnings of ($0.23) per share, with EPS estimates ranging from ($0.49) to $0.03. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Amarin.
Amarin (NASDAQ:AMRN – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The biopharmaceutical company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The firm had revenue of $94.60 million for the quarter, compared to analyst estimates of $128.21 million. Amarin had a negative return on equity of 1.31% and a negative net margin of 4.15%. Amarin’s revenue for the quarter was down 33.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 EPS.
AMRN has been the topic of a number of analyst reports. StockNews.com raised shares of Amarin from a “sell” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. cut shares of Amarin from a “neutral” rating to an “underweight” rating in a research note on Friday, May 6th. The Goldman Sachs Group dropped their price target on shares of Amarin from $1.75 to $1.50 and set a “sell” rating on the stock in a research note on Tuesday, May 24th. Northland Securities cut shares of Amarin from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 4th. Finally, HC Wainwright cut shares of Amarin from a “buy” rating to a “neutral” rating and dropped their price target for the company from $10.00 to $3.00 in a research note on Thursday, May 5th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $4.30.
A number of hedge funds have recently made changes to their positions in the business. Sarissa Capital Management LP lifted its holdings in Amarin by 24.7% in the 1st quarter. Sarissa Capital Management LP now owns 24,000,000 shares of the biopharmaceutical company’s stock valued at $78,960,000 after purchasing an additional 4,750,000 shares in the last quarter. BVF Inc. IL lifted its holdings in Amarin by 564.8% in the 3rd quarter. BVF Inc. IL now owns 11,407,182 shares of the biopharmaceutical company’s stock valued at $58,177,000 after purchasing an additional 9,691,201 shares in the last quarter. Morgan Stanley raised its holdings in shares of Amarin by 0.7% during the 3rd quarter. Morgan Stanley now owns 6,336,406 shares of the biopharmaceutical company’s stock worth $32,315,000 after acquiring an additional 41,332 shares during the period. Clearbridge Investments LLC raised its holdings in shares of Amarin by 0.9% during the 1st quarter. Clearbridge Investments LLC now owns 4,789,575 shares of the biopharmaceutical company’s stock worth $15,758,000 after acquiring an additional 42,012 shares during the period. Finally, Fairmount Funds Management LLC raised its holdings in shares of Amarin by 65.4% during the 1st quarter. Fairmount Funds Management LLC now owns 4,133,237 shares of the biopharmaceutical company’s stock worth $13,598,000 after acquiring an additional 1,635,000 shares during the period. Institutional investors own 35.42% of the company’s stock.
Shares of NASDAQ AMRN opened at $1.68 on Friday. The stock has a market capitalization of $666.97 million, a price-to-earnings ratio of -33.59 and a beta of 2.12. Amarin has a 12 month low of $1.11 and a 12 month high of $5.97. The firm’s 50 day simple moving average is $2.38 and its 200-day simple moving average is $3.04.
About Amarin (Get Rating)
Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, Germany, Canada, Lebanon, and the United Arab Emirates. Its lead product is VASCEPA, a prescription-only omega-3 fatty acid product, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.
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