Brokerages Anticipate Amarin Co. plc (NASDAQ:AMRN) Will Announce Earnings of -$0.06 Per Share

Wall Street brokerages expect that Amarin Co. plc (NASDAQ:AMRN – Get Rating) will post earnings per share (EPS) of ($0.06) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Amarin’s earnings, with estimates ranging from ($0.10) to ($0.03). Amarin posted earnings of $0.03 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 300%. The business is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Amarin will report full year earnings of ($0.22) per share for the current fiscal year, with EPS estimates ranging from ($0.33) to ($0.03). For the next year, analysts anticipate that the business will report earnings of ($0.23) per share, with EPS estimates ranging from ($0.49) to $0.03. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Amarin.

Amarin (NASDAQ:AMRN – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The firm had revenue of $94.60 million for the quarter, compared to analysts’ expectations of $128.21 million. Amarin had a negative net margin of 4.15% and a negative return on equity of 1.31%. The company’s revenue for the quarter was down 33.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 EPS.

AMRN has been the subject of a number of research analyst reports. SVB Leerink lowered Amarin from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $10.00 to $3.00 in a research report on Thursday, May 5th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Amarin in a report on Wednesday, March 2nd. Northland Securities downgraded shares of Amarin from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 4th. HC Wainwright downgraded shares of Amarin from a “buy” rating to a “neutral” rating and lowered their price target for the company from $10.00 to $3.00 in a report on Thursday, May 5th. Finally, StockNews.com downgraded shares of Amarin from a “hold” rating to a “sell” rating in a report on Wednesday, May 11th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $5.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Westside Investment Management Inc. lifted its stake in Amarin by 1.1% in the fourth quarter. Westside Investment Management Inc. now owns 321,605 shares of the biopharmaceutical company’s stock worth $6,190,000 after purchasing an additional 3,440 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Amarin by 3.0% during the third quarter. Geneos Wealth Management Inc. now owns 134,175 shares of the biopharmaceutical company’s stock valued at $685,000 after acquiring an additional 3,850 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Amarin by 2.8% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 148,600 shares of the biopharmaceutical company’s stock valued at $485,000 after acquiring an additional 4,000 shares in the last quarter. Jacobi Capital Management LLC raised its stake in shares of Amarin by 977.8% during the third quarter. Jacobi Capital Management LLC now owns 4,850 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 4,400 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. raised its stake in shares of Amarin by 4.1% during the fourth quarter. Laurel Wealth Advisors Inc. now owns 112,427 shares of the biopharmaceutical company’s stock valued at $379,000 after acquiring an additional 4,452 shares in the last quarter. 35.42% of the stock is owned by institutional investors and hedge funds.

Shares of Amarin stock opened at $1.49 on Friday. The business has a 50-day moving average price of $2.87 and a 200-day moving average price of $3.32. Amarin has a twelve month low of $1.11 and a twelve month high of $5.97.

About Amarin (Get Rating)

Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, Germany, Canada, Lebanon, and the United Arab Emirates. Its lead product is VASCEPA, a prescription-only omega-3 fatty acid product, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.

Recommended Stories