Amarin Co. plc (NASDAQ:AMRN) Expected to Announce Quarterly Sales of $100.18 Million

Equities analysts expect Amarin Co. plc (NASDAQ:AMRN) to post $100.18 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Amarin’s earnings. The highest sales estimate is $100.30 million and the lowest is $100.00 million. Amarin reported sales of $52.64 million during the same quarter last year, which indicates a positive year over year growth rate of 90.3%. The firm is expected to report its next earnings report on Wednesday, August 7th.

On average, analysts expect that Amarin will report full-year sales of $413.78 million for the current financial year, with estimates ranging from $404.00 million to $423.20 million. For the next year, analysts anticipate that the company will post sales of $673.32 million, with estimates ranging from $606.00 million to $725.88 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Amarin.

Amarin (NASDAQ:AMRN) last released its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.04. The business had revenue of $73.30 million during the quarter, compared to analyst estimates of $67.30 million. Amarin had a negative net margin of 45.16% and a negative return on equity of 450.07%. The company’s quarterly revenue was up 67.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.07) earnings per share.

Several equities analysts recently commented on AMRN shares. Zacks Investment Research lowered shares of Hallmark Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday. Cantor Fitzgerald set a $35.00 price objective on shares of Amarin and gave the company a “buy” rating in a research report on Thursday, July 11th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Amarin in a research report on Tuesday, July 9th. HC Wainwright set a $51.00 price objective on shares of Amarin and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Finally, Roth Capital started coverage on shares of Amarin in a research report on Monday, June 17th. They issued a “buy” rating and a $31.00 price objective for the company. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $31.00.

In other Amarin news, Director David M. Stack sold 51,991 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $22.28, for a total transaction of $1,158,359.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph S. Zakrzewski sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $23.82, for a total transaction of $2,382,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 679,159 shares of company stock valued at $13,728,330 over the last three months. 2.75% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of AMRN. New York State Common Retirement Fund acquired a new stake in shares of Amarin in the fourth quarter valued at approximately $170,000. Advisor Group Inc. raised its position in shares of Amarin by 295.9% in the fourth quarter. Advisor Group Inc. now owns 23,918 shares of the biopharmaceutical company’s stock valued at $324,000 after buying an additional 17,877 shares in the last quarter. Neuburgh Advisers LLC acquired a new stake in shares of Amarin in the fourth quarter valued at approximately $36,000. Pura Vida Investments LLC raised its position in shares of Amarin by 74.7% in the fourth quarter. Pura Vida Investments LLC now owns 389,480 shares of the biopharmaceutical company’s stock valued at $5,301,000 after buying an additional 166,480 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of Amarin in the fourth quarter valued at approximately $16,610,000. 47.62% of the stock is owned by institutional investors.

Shares of Amarin stock traded down $0.82 during midday trading on Friday, hitting $18.08. The company had a trading volume of 28,493,068 shares, compared to its average volume of 10,641,162. The stock has a market capitalization of $5.98 billion, a PE ratio of -46.36 and a beta of 1.18. The company has a current ratio of 2.20, a quick ratio of 1.84 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average price of $19.67. Amarin has a 12-month low of $2.35 and a 12-month high of $23.91.

Amarin Company Profile

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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