Amarin (NASDAQ:AMRN) Posts Quarterly Earnings Results

Amarin (NASDAQ:AMRN) issued its earnings results on Wednesday. The biopharmaceutical company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01, Morningstar.com reports. The company had revenue of $100.40 million for the quarter, compared to the consensus estimate of $99.54 million. Amarin had a negative net margin of 45.16% and a negative return on equity of 450.07%. The firm’s revenue for the quarter was up 90.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.10) earnings per share.

Shares of NASDAQ AMRN opened at $17.83 on Friday. 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 firm has a market capitalization of $5.89 billion, a P/E ratio of -45.72 and a beta of 1.18. The business has a 50-day simple moving average of $19.78. Amarin has a fifty-two week low of $2.57 and a fifty-two week high of $23.91.

Several analysts recently weighed in on AMRN shares. Cantor Fitzgerald set a $35.00 price target on shares of Amarin and gave the company a “buy” rating in a report on Wednesday. BidaskClub lowered Amarin from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. HC Wainwright reissued a “buy” rating on shares of Amarin in a research report on Thursday. Stifel Nicolaus reissued a “buy” rating and issued a $26.00 target price on shares of Amarin in a research report on Wednesday. Finally, Zacks Investment Research lowered shares of Amarin from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Amarin has an average rating of “Buy” and a consensus target price of $30.38.

In related news, insider Aaron Berg sold 113,195 shares of Amarin stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $18.59, for a total transaction of $2,104,295.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Wayne Kalb sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $19.67, for a total value of $983,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 642,388 shares of company stock valued at $13,041,271. Corporate insiders own 2.75% of the company’s stock.

Several large investors have recently modified their holdings of the company. Wealthcare Advisory Partners LLC purchased a new stake in Amarin in the first quarter valued at $42,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Amarin in the 1st quarter valued at $44,000. Kistler Tiffany Companies LLC increased its holdings in Amarin by 166.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,400 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 1,500 shares during the period. Winslow Evans & Crocker Inc. increased its holdings in Amarin by 150.0% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 2,500 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 1,500 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in Amarin by 266.3% during the 4th quarter. Global Retirement Partners LLC now owns 2,612 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 1,899 shares during the period. 47.65% of the stock is currently owned by hedge funds and other institutional investors.

About Amarin

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 for Amarin (NASDAQ:AMRN)

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