$164.13 Million in Sales Expected for Amarin Co. plc (NASDAQ:AMRN) This Quarter

Brokerages expect Amarin Co. plc (NASDAQ:AMRN) to post sales of $164.13 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Amarin’s earnings. The lowest sales estimate is $151.70 million and the highest is $176.84 million. Amarin posted sales of $156.50 million in the same quarter last year, which suggests a positive year over year growth rate of 4.9%. The firm is expected to issue its next quarterly earnings results on Thursday, November 4th.

On average, analysts expect that Amarin will report full year sales of $643.92 million for the current fiscal year, with estimates ranging from $600.60 million to $701.44 million. For the next year, analysts anticipate that the company will report sales of $698.96 million, with estimates ranging from $556.90 million to $888.13 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Amarin.

Amarin (NASDAQ:AMRN) last released its earnings results on Wednesday, August 4th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.05. The firm had revenue of $154.50 million during the quarter, compared to analyst estimates of $153.28 million. Amarin had a net margin of 0.70% and a return on equity of 0.69%. The business’s revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the business earned $0.04 EPS.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Amarin from a “hold” rating to a “strong-buy” rating and set a $5.50 price objective for the company in a report on Wednesday, June 30th. Cantor Fitzgerald reiterated a “buy” rating and set a $10.00 price objective on shares of Amarin in a report on Friday, June 11th. HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of Amarin in a report on Monday, August 9th. Finally, SVB Leerink assumed coverage on shares of Amarin in a report on Thursday, September 9th. They set an “outperform” rating and a $12.00 price objective for the company. One analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $9.44.

Shares of Amarin stock traded down $0.11 during trading on Friday, hitting $5.04. The stock had a trading volume of 105,697 shares, compared to its average volume of 4,942,156. The firm’s fifty day simple moving average is $4.93 and its 200-day simple moving average is $5.08. The stock has a market cap of $1.99 billion, a PE ratio of 510.51 and a beta of 2.23. Amarin has a 12 month low of $3.36 and a 12 month high of $9.25.

In other news, CFO Michael Wayne Kalb sold 120,000 shares of the business’s stock in a transaction dated Thursday, August 12th. The shares were sold at an average price of $5.25, for a total value of $630,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.67% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Connecticut Wealth Management LLC purchased a new position in shares of Amarin in the 1st quarter worth approximately $870,000. Stonebridge Capital Advisors LLC purchased a new position in shares of Amarin in the 1st quarter worth approximately $34,000. Sowell Financial Services LLC grew its position in shares of Amarin by 182.9% in the 1st quarter. Sowell Financial Services LLC now owns 5,738 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 3,710 shares during the last quarter. Covington Capital Management grew its position in shares of Amarin by 2,500.0% in the 1st quarter. Covington Capital Management now owns 7,800 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 7,500 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Amarin in the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 32.33% of the company’s stock.

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 and Estimates for Amarin (NASDAQ:AMRN)

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