Amarin Co. plc (NASDAQ:AMRN) – Stock analysts at Jefferies Financial Group lifted their Q2 2019 earnings per share (EPS) estimates for shares of Amarin in a research note issued on Tuesday, July 9th. Jefferies Financial Group analyst M. Yee now anticipates that the biopharmaceutical company will post earnings per share of ($0.02) for the quarter, up from their prior forecast of ($0.04). Jefferies Financial Group currently has a “Buy” rating and a $30.00 price target on the stock. Jefferies Financial Group also issued estimates for Amarin’s Q3 2019 earnings at ($0.06) EPS, Q4 2019 earnings at ($0.05) EPS, FY2019 earnings at ($0.22) EPS and FY2020 earnings at ($0.21) EPS.
Amarin (NASDAQ:AMRN) last released its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.04. Amarin had a negative net margin of 45.16% and a negative return on equity of 450.07%. The business had revenue of $73.30 million for the quarter, compared to analyst estimates of $67.30 million. During the same quarter in the previous year, the business earned ($0.07) earnings per share. The firm’s revenue was up 67.0% compared to the same quarter last year.
AMRN stock opened at $21.89 on Friday. Amarin has a 52-week low of $2.35 and a 52-week high of $23.91. The company’s 50 day moving average price is $19.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.20 and a quick ratio of 1.84. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of -56.13 and a beta of 1.18.
A number of hedge funds have recently bought and sold shares of AMRN. Perceptive Advisors LLC grew its position in Amarin by 699.0% in the fourth quarter. Perceptive Advisors LLC now owns 4,875,600 shares of the biopharmaceutical company’s stock worth $64,553,000 after acquiring an additional 4,265,400 shares in the last quarter. venBio Select Advisor LLC grew its position in Amarin by 37.8% in the fourth quarter. venBio Select Advisor LLC now owns 5,575,000 shares of the biopharmaceutical company’s stock worth $75,876,000 after acquiring an additional 1,530,000 shares in the last quarter. Two Sigma Investments LP bought a new stake in Amarin in the fourth quarter worth approximately $16,610,000. Rubric Capital Management LP grew its position in Amarin by 67.2% in the first quarter. Rubric Capital Management LP now owns 2,250,000 shares of the biopharmaceutical company’s stock worth $46,710,000 after acquiring an additional 904,624 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its position in Amarin by 395.7% in the first quarter. Frontier Capital Management Co. LLC now owns 1,021,731 shares of the biopharmaceutical company’s stock worth $21,211,000 after acquiring an additional 815,616 shares in the last quarter. 47.62% of the stock is owned by institutional investors.
In other Amarin news, insider Steven B. Ketchum sold 9,541 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $18.67, for a total value of $178,130.47. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Michael Wayne Kalb sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $19.67, for a total transaction of $983,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 679,159 shares of company stock worth $13,728,330. Company insiders own 2.75% 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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