Zacks: Analysts Anticipate Amarin Co. plc (NASDAQ:AMRN) Will Announce Quarterly Sales of $150.78 Million

Equities analysts expect that Amarin Co. plc (NASDAQ:AMRN) will announce $150.78 million in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Amarin’s earnings. The highest sales estimate is $192.80 million and the lowest is $139.50 million. Amarin reported sales of $167.25 million in the same quarter last year, which indicates a negative year-over-year growth rate of 9.8%. The company is expected to announce its next quarterly earnings results on Thursday, February 24th.

On average, analysts expect that Amarin will report full-year sales of $578.38 million for the current financial year, with estimates ranging from $576.10 million to $580.00 million. For the next year, analysts anticipate that the business will post sales of $604.31 million, with estimates ranging from $515.00 million to $680.40 million. Zacks’ sales averages are an average based on a survey of analysts that follow Amarin.

Amarin (NASDAQ:AMRN) last posted its earnings results on Wednesday, November 3rd. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. Amarin had a negative net margin of 0.34% and a positive return on equity of 1.89%. The firm had revenue of $142.00 million for the quarter, compared to the consensus estimate of $161.29 million. During the same period in the prior year, the business posted ($0.02) earnings per share. The business’s quarterly revenue was down 8.5% on a year-over-year basis.

Several research firms recently weighed in on AMRN. Zacks Investment Research upgraded shares of Amarin from a “hold” rating to a “strong-buy” rating and set a $4.00 target price for the company in a research note on Wednesday. SVB Leerink restated a “buy” rating and set a $12.00 price target on shares of Amarin in a research note on Sunday, September 26th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Amarin has a consensus rating of “Buy” and an average target price of $8.20.

AMRN stock opened at $3.52 on Wednesday. Amarin has a 52-week low of $3.11 and a 52-week high of $9.25. The company has a 50-day moving average of $3.60 and a two-hundred day moving average of $4.44. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 86.75 and a beta of 2.13.

In related news, Director Joseph S. Zakrzewski acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 14th. The shares were acquired at an average cost of $3.27 per share, with a total value of $32,700.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.67% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Jacobi Capital Management LLC grew its stake in Amarin by 977.8% in the 3rd quarter. Jacobi Capital Management LLC now owns 4,850 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 4,400 shares during the last quarter. FNY Investment Advisers LLC boosted its holdings in Amarin by 193.9% in the 4th quarter. FNY Investment Advisers LLC now owns 9,110 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 6,010 shares during the period. Advisory Services Network LLC bought a new stake in shares of Amarin during the 2nd quarter worth approximately $47,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Amarin during the 2nd quarter worth approximately $58,000. Finally, Court Place Advisors LLC lifted its holdings in shares of Amarin by 32.4% during the 2nd quarter. Court Place Advisors LLC now owns 13,500 shares of the biopharmaceutical company’s stock worth $59,000 after acquiring an additional 3,300 shares during the period. Institutional investors own 30.24% of the company’s stock.

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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