Equities analysts predict that Amarin Co. plc (NASDAQ:AMRN) will post $59.10 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Amarin’s earnings, with the lowest sales estimate coming in at $56.80 million and the highest estimate coming in at $63.50 million. Amarin reported sales of $45.24 million in the same quarter last year, which would suggest a positive year over year growth rate of 30.6%. The company is scheduled to issue its next quarterly earnings results on Wednesday, August 1st.
According to Zacks, analysts expect that Amarin will report full-year sales of $237.17 million for the current financial year, with estimates ranging from $231.70 million to $247.30 million. For the next financial 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’ sales calculations are an average based on a survey of analysts that that provide coverage for Amarin.
Get Amarin alerts:Amarin (NASDAQ:AMRN) last issued its quarterly earnings results on Wednesday, May 2nd. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.08). The company had revenue of $43.80 million for the quarter, compared to analyst estimates of $43.75 million. During the same quarter in the previous year, the company posted ($0.08) EPS. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year.
A number of brokerages have issued reports on AMRN. 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, May 30th. BidaskClub upgraded shares of Amarin from a “strong sell” rating to a “sell” rating in a research note on Friday, May 4th. ValuEngine upgraded shares of Amarin from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Zacks Investment Research upgraded shares of Amarin from a “sell” rating to a “hold” rating in a research note on Monday, May 7th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $7.75.
Amarin stock traded up $0.06 during mid-day trading on Friday, reaching $3.00. 1,548,913 shares of the company traded hands, compared to its average volume of 2,162,999. The company has a current ratio of 1.74, a quick ratio of 1.45 and a debt-to-equity ratio of -2.30. Amarin has a fifty-two week low of $2.66 and a fifty-two week high of $4.60. The firm has a market capitalization of $859.41 million, a price-to-earnings ratio of -12.00 and a beta of 0.73.
In other news, General Counsel Joseph T. Kennedy sold 26,942 shares of the stock in a transaction on Monday, July 2nd. The shares were 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 owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Alkeon Capital Management LLC acquired a new stake in shares of Amarin in the first quarter worth $5,869,000. Sofinnova Ventures Inc acquired a new stake in shares of Amarin in the first quarter worth $9,998,000. A.R.T. Advisors LLC increased its stake in shares of Amarin by 205.3% in the first quarter. A.R.T. Advisors LLC now owns 342,285 shares of the biopharmaceutical company’s stock worth $1,030,000 after acquiring an additional 230,185 shares during the period. Rock Springs Capital Management LP increased its stake in shares of Amarin by 1.3% in the first quarter. Rock Springs Capital Management LP now owns 4,000,000 shares of the biopharmaceutical company’s stock worth $12,040,000 after acquiring an additional 50,000 shares during the period. Finally, Farallon Capital Management LLC acquired a new stake in shares of Amarin in the first quarter worth $13,726,000. Hedge funds and other institutional investors own 42.51% 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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