Amarin Co. plc (NASDAQ:AMRN) – Investment analysts at SunTrust Banks dropped their FY2019 earnings per share (EPS) estimates for Amarin in a research note issued to investors on Friday. SunTrust Banks analyst J. Boris now forecasts that the biopharmaceutical company will post earnings per share of $0.17 for the year, down from their prior estimate of $0.18. SunTrust Banks also issued estimates for Amarin’s FY2020 earnings at $0.61 EPS and FY2021 earnings at $0.81 EPS.
Amarin (NASDAQ:AMRN) last posted its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The company had revenue of $53.87 million during the quarter, compared to analyst estimates of $52.73 million. The company’s revenue was up 39.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) earnings per share.
Amarin (NASDAQ AMRN) traded down $0.14 during mid-day trading on Monday, hitting $3.56. The company had a trading volume of 2,049,800 shares, compared to its average volume of 2,267,286. The company has a debt-to-equity ratio of -1.48, a current ratio of 1.63 and a quick ratio of 1.32. The firm has a market cap of $969.75, a price-to-earnings ratio of -14.24 and a beta of 0.50. Amarin has a 1-year low of $2.85 and a 1-year high of $4.60.
In related news, insider Steven B. Ketchum sold 135,205 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $4.41, for a total transaction of $596,254.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven B. Ketchum sold 128,257 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $4.25, for a total value of $545,092.25. The disclosure for this sale can be found here. Insiders have sold a total of 426,720 shares of company stock worth $1,814,296 over the last three months. 3.72% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of AMRN. Paloma Partners Management Co acquired a new position in Amarin in the 4th quarter valued at $141,000. Hoylecohen LLC acquired a new position in Amarin in the 4th quarter valued at $142,000. Wells Fargo & Company MN grew its holdings in Amarin by 15.2% in the 2nd quarter. Wells Fargo & Company MN now owns 37,801 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 5,000 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Amarin in the 3rd quarter valued at $226,000. Finally, Stevens Capital Management LP acquired a new position in Amarin in the 3rd quarter valued at $229,000. 37.28% of the stock is currently owned by hedge funds and other institutional investors.
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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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