Equities research analysts expect Amarin Corporation PLC (NASDAQ:AMRN) to announce sales of $50.30 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Amarin Corporation PLC’s earnings. The highest sales estimate is $52.60 million and the lowest is $49.00 million. Amarin Corporation PLC posted sales of $38.70 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 30%. The business is expected to report its next quarterly earnings report on Tuesday, February 27th.
On average, analysts expect that Amarin Corporation PLC will report full-year sales of $50.30 million for the current fiscal year, with estimates ranging from $175.40 million to $179.90 million. For the next fiscal 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’ sales calculations are a mean average based on a survey of research firms that follow Amarin Corporation PLC.
Amarin Corporation PLC (NASDAQ:AMRN) last issued its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $47.10 million for the quarter, compared to analyst estimates of $45.85 million. The firm’s revenue for the quarter was up 45.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.08) earnings per share.
AMRN has been the subject of a number of recent analyst reports. BidaskClub downgraded Amarin Corporation PLC from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Zacks Investment Research downgraded Amarin Corporation PLC from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Amarin Corporation PLC in a research report on Wednesday, August 9th. ValuEngine raised Amarin Corporation PLC from a “sell” rating to a “hold” rating in a research report on Thursday, August 31st. Finally, Cantor Fitzgerald set a $10.00 price objective on Amarin Corporation PLC and gave the stock a “buy” rating in a research report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $7.75.
In related news, insider Steven B. Ketchum sold 63,479 shares of the firm’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $3.48, for a total transaction of $220,906.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.72% of the company’s stock.
A number of institutional investors have recently made changes to their positions in AMRN. Alkeon Capital Management LLC purchased a new position in Amarin Corporation PLC during the 3rd quarter valued at about $7,875,000. Renaissance Technologies LLC boosted its stake in shares of Amarin Corporation PLC by 348.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,730,200 shares of the biopharmaceutical company’s stock valued at $5,537,000 after buying an additional 1,344,200 shares during the period. University of Notre Dame DU Lac purchased a new position in shares of Amarin Corporation PLC in the 3rd quarter valued at about $2,814,000. Morgan Stanley boosted its stake in shares of Amarin Corporation PLC by 119.7% in the 1st quarter. Morgan Stanley now owns 1,138,992 shares of the biopharmaceutical company’s stock valued at $3,645,000 after buying an additional 620,577 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Amarin Corporation PLC by 681.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 278,134 shares of the biopharmaceutical company’s stock valued at $1,121,000 after buying an additional 242,544 shares during the period. Institutional investors own 37.67% of the company’s stock.
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Shares of Amarin Corporation PLC (AMRN) opened at $3.42 on Friday. The company has a debt-to-equity ratio of -1.48, a quick ratio of 1.32 and a current ratio of 1.63. Amarin Corporation PLC has a 52-week low of $2.81 and a 52-week high of $4.47.
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.
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