Analysts Expect Amarin Corporation PLC (AMRN) Will Announce Quarterly Sales of $45.10 Million

Equities analysts expect that Amarin Corporation PLC (NASDAQ:AMRN) will announce sales of $45.10 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Amarin Corporation PLC’s earnings, with estimates ranging from $43.50 million to $46.00 million. Amarin Corporation PLC reported sales of $32.73 million during the same quarter last year, which indicates a positive year-over-year growth rate of 37.8%. The business is expected to announce its next earnings results on Thursday, November 2nd.

On average, analysts expect that Amarin Corporation PLC will report full year sales of $45.10 million for the current financial year, with estimates ranging from $166.80 million to $177.60 million. For the next year, analysts anticipate that the company will post sales of $285.23 million per share, with estimates ranging from $223.30 million to $385.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Amarin Corporation PLC.

Amarin Corporation PLC (NASDAQ:AMRN) last announced its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The company had revenue of $44.95 million during the quarter, compared to analyst estimates of $40.35 million. During the same quarter last year, the business earned ($0.07) EPS. The firm’s revenue for the quarter was up 37.0% on a year-over-year basis.

Several equities research analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Amarin Corporation PLC in a report on Wednesday, June 28th. BidaskClub raised shares of Amarin Corporation PLC from a “hold” rating to a “buy” rating in a report on Friday, June 30th. ValuEngine downgraded shares of Amarin Corporation PLC from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Jefferies Group LLC upped their price objective on shares of Amarin Corporation PLC from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Friday, June 30th. Finally, Zacks Investment Research downgraded shares of Amarin Corporation PLC from a “buy” rating to a “hold” rating in a report on Monday, August 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $7.20.

In other Amarin Corporation PLC news, insider Steven B. Ketchum sold 63,479 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $3.48, for a total transaction of $220,906.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.72% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd lifted its stake in Amarin Corporation PLC by 94.2% during the second quarter. Dynamic Technology Lab Private Ltd now owns 87,104 shares of the biopharmaceutical company’s stock valued at $351,000 after buying an additional 42,246 shares in the last quarter. Westside Investment Management Inc. lifted its stake in Amarin Corporation PLC by 1.1% during the second quarter. Westside Investment Management Inc. now owns 27,350 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 300 shares in the last quarter. State Street Corp lifted its stake in Amarin Corporation PLC by 1.3% during the second quarter. State Street Corp now owns 201,995 shares of the biopharmaceutical company’s stock valued at $814,000 after buying an additional 2,640 shares in the last quarter. Intrinsic Edge Capital Management LLC purchased a new stake in Amarin Corporation PLC during the second quarter valued at about $725,000. Finally, Stonepine Capital Management LLC purchased a new stake in Amarin Corporation PLC during the second quarter valued at about $302,000. 37.76% of the stock is owned by institutional investors.

Shares of Amarin Corporation PLC (AMRN) opened at 3.51 on Monday. The firm’s market cap is $950.48 million. The company has a 50 day moving average of $3.28 and a 200 day moving average of $3.32. Amarin Corporation PLC has a 52 week low of $2.75 and a 52 week high of $4.47.

TRADEMARK VIOLATION WARNING: This news story was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this news story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The original version of this news story can be viewed at https://ledgergazette.com/2017/10/09/analysts-expect-amarin-corporation-plc-amrn-will-announce-quarterly-sales-of-45-10-million.html.

About Amarin Corporation PLC

Amarin Corporation plc is a biopharmaceutical company with operations in lipid science focused on the commercialization and development of therapeutics for cardiovascular health. The Company operates through the development and commercialization of Vascepa segment. The Company’s lead product, Vascepa (icosapent ethyl) capsule, is approved by the United States Food and Drug Administration (FDA) for use as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia.

Get a free copy of the Zacks research report on Amar

On average, analysts expect that Amarin Corporation PLC will report full year sales of $45.10 million for the current financial year, with estimates ranging from $166.80 million to $177.60 million. For the next year, analysts anticipate that the company will post sales of $285.23 million per share, with estimates ranging from $223.30 million to $385.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Amarin Corporation PLC.

Amarin Corporation PLC (NASDAQ:AMRN) last announced its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The company had revenue of $44.95 million during the quarter, compared to analyst estimates of $40.35 million. During the same quarter last year, the business earned ($0.07) EPS. The firm’s revenue for the quarter was up 37.0% on a year-over-year basis.

Several equities research analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Amarin Corporation PLC in a report on Wednesday, June 28th. BidaskClub raised shares of Amarin Corporation PLC from a “hold” rating to a “buy” rating in a report on Friday, June 30th. ValuEngine downgraded shares of Amarin Corporation PLC from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Jefferies Group LLC upped their price objective on shares of Amarin Corporation PLC from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Friday, June 30th. Finally, Zacks Investment Research downgraded shares of Amarin Corporation PLC from a “buy” rating to a “hold” rating in a report on Monday, August 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $7.20.

In other Amarin Corporation PLC news, insider Steven B. Ketchum sold 63,479 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $3.48, for a total transaction of $220,906.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.72% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd lifted its stake in Amarin Corporation PLC by 94.2% during the second quarter. Dynamic Technology Lab Private Ltd now owns 87,104 shares of the biopharmaceutical company’s stock valued at $351,000 after buying an additional 42,246 shares in the last quarter. Westside Investment Management Inc. lifted its stake in Amarin Corporation PLC by 1.1% during the second quarter. Westside Investment Management Inc. now owns 27,350 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 300 shares in the last quarter. State Street Corp lifted its stake in Amarin Corporation PLC by 1.3% during the second quarter. State Street Corp now owns 201,995 shares of the biopharmaceutical company’s stock valued at $814,000 after buying an additional 2,640 shares in the last quarter. Intrinsic Edge Capital Management LLC purchased a new stake in Amarin Corporation PLC during the second quarter valued at about $725,000. Finally, Stonepine Capital Management LLC purchased a new stake in Amarin Corporation PLC during the second quarter valued at about $302,000. 37.76% of the stock is owned by institutional investors.

Shares of Amarin Corporation PLC (AMRN) opened at 3.51 on Monday. The firm’s market cap is $950.48 million. The company has a 50 day moving average of $3.28 and a 200 day moving average of $3.32. Amarin Corporation PLC has a 52 week low of $2.75 and a 52 week high of $4.47.

TRADEMARK VIOLATION WARNING: This news story was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this news story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The original version of this news story can be viewed at https://ledgergazette.com/2017/10/09/analysts-expect-amarin-corporation-plc-amrn-will-announce-quarterly-sales-of-45-10-million.html.

About Amarin Corporation PLC

Amarin Corporation plc is a biopharmaceutical company with operations in lipid science focused on the commercialization and development of therapeutics for cardiovascular health. The Company operates through the development and commercialization of Vascepa segment. The Company’s lead product, Vascepa (icosapent ethyl) capsule, is approved by the United States Food and Drug Administration (FDA) for use as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia.

Get a free copy of the Zacks research report on Amarin Corporation PLC (AMRN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Amarin Corporation PLC (NASDAQ:AMRN)

Receive News & Ratings for Amarin Corporation PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amarin Corporation PLC and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply