Zacks: Brokerages Anticipate Amarin Co. plc (NASDAQ:AMRN) Will Announce Earnings of -$0.01 Per Share

Brokerages expect Amarin Co. plc (NASDAQ:AMRN) to post earnings per share (EPS) of ($0.01) for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Amarin’s earnings, with the highest EPS estimate coming in at $0.00 and the lowest estimate coming in at ($0.01). Amarin reported earnings per share of ($0.10) during the same quarter last year, which would suggest a positive year-over-year growth rate of 90%. The firm is expected to announce its next earnings report on Wednesday, August 7th.

According to Zacks, analysts expect that Amarin will report full-year earnings of ($0.11) per share for the current financial year, with EPS estimates ranging from ($0.13) to ($0.09). For the next year, analysts expect that the company will post earnings of $0.19 per share, with EPS estimates ranging from ($0.13) to $0.50. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Amarin.

Amarin (NASDAQ:AMRN) last released its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.04. Amarin had a negative net margin of 45.16% and a negative return on equity of 450.07%. The business had revenue of $73.30 million for the quarter, compared to analysts’ expectations of $67.30 million. During the same period in the prior year, the firm earned ($0.07) earnings per share. Amarin’s revenue was up 67.0% compared to the same quarter last year.

Several equities research analysts have weighed in on the stock. HC Wainwright set a $51.00 target price on shares of Amarin and gave the stock a “buy” rating in a report on Wednesday, July 3rd. BidaskClub lowered shares of RigNet from a “sell” rating to a “strong sell” rating in a report on Thursday, March 21st. Cantor Fitzgerald set a $35.00 price objective on shares of Amarin and gave the stock a “buy” rating in a report on Thursday, July 11th. Roth Capital began coverage on shares of Amarin in a report on Monday, June 17th. They set a “buy” rating and a $31.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of HB Fuller from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $30.75.

AMRN stock traded down $0.43 during midday trading on Friday, reaching $21.31. The company’s stock had a trading volume of 346,167 shares, compared to its average volume of 9,455,931. Amarin has a 52 week low of $2.35 and a 52 week high of $23.91. The stock has a market capitalization of $7.23 billion, a PE ratio of -53.79 and a beta of 1.18. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.84 and a current ratio of 2.20. The stock’s 50-day moving average price is $19.60.

In other Amarin news, insider Steven B. Ketchum sold 9,541 shares of Amarin stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $18.67, for a total value of $178,130.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Joseph T. Kennedy sold 27,230 shares of Amarin stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $18.69, for a total transaction of $508,928.70. The disclosure for this sale can be found here. Insiders have sold a total of 679,159 shares of company stock valued at $13,728,330 in the last ninety days. 2.75% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of AMRN. New York State Common Retirement Fund acquired a new position in Amarin in the fourth quarter worth about $170,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Amarin during the 4th quarter worth approximately $791,000. Advisor Group Inc. raised its stake in shares of Amarin by 295.9% during the 4th quarter. Advisor Group Inc. now owns 23,918 shares of the biopharmaceutical company’s stock worth $324,000 after buying an additional 17,877 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new position in shares of Amarin during the 4th quarter worth approximately $131,000. Finally, Neuburgh Advisers LLC purchased a new position in shares of Amarin during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 47.62% of the company’s stock.

Amarin Company Profile

Amarin Corp. Plc is a biopharmaceutical company, which focuses on the commercialization and development of therapeutics for cardiovascular health. Its product development program leverages its experience in lipid science and the potential therapeutic benefits of polyunsaturated fatty acids. It has developed and markets Vascepa capsules through wholesale.

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Earnings History and Estimates for Amarin (NASDAQ:AMRN)

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