$100.18 Million in Sales Expected for Amarin Co. plc (NASDAQ:AMRN) This Quarter

Wall Street brokerages expect Amarin Co. plc (NASDAQ:AMRN) to post $100.18 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Amarin’s earnings, with the lowest sales estimate coming in at $100.00 million and the highest estimate coming in at $100.30 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 results on Wednesday, August 7th.

According to Zacks, analysts expect that Amarin will report full year sales of $413.78 million for the current fiscal year, with estimates ranging from $404.00 million to $423.20 million. For the next year, analysts expect 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 cover Amarin.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $73.30 million for the quarter, compared to analyst estimates of $67.30 million. During the same period in the previous year, the company earned ($0.07) earnings per share. The business’s quarterly revenue was up 67.0% compared to the same quarter last year.



Several equities research analysts have commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $30.00 price target on shares of Amarin in a report on Tuesday, July 9th. Zacks Investment Research lowered shares of Hallmark Financial Services from a “buy” rating to a “hold” rating in a report on Thursday. Roth Capital assumed coverage on shares of Amarin in a report on Monday, June 17th. They issued a “buy” rating and a $31.00 price target on the stock. Cantor Fitzgerald set a $35.00 price target on shares of Amarin and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, Stifel Nicolaus set a $27.00 price target on shares of Amarin and gave the company a “buy” rating in a report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Amarin currently has a consensus rating of “Buy” and an average target price of $31.00.

In other news, insider Aaron Berg sold 113,195 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $18.59, for a total transaction of $2,104,295.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David M. Stack sold 51,991 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $22.28, for a total transaction of $1,158,359.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 679,159 shares of company stock worth $13,728,330. Corporate insiders own 2.75% of the company’s stock.

Several hedge funds have recently bought and sold shares of AMRN. Perceptive Advisors LLC boosted its stake in shares of Amarin by 699.0% during the 4th 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. Two Sigma Investments LP acquired a new position in shares of Amarin during the 4th quarter worth about $16,610,000. Rubric Capital Management LP raised its position in shares of Amarin by 67.2% during the 1st quarter. Rubric Capital Management LP now owns 2,250,000 shares of the biopharmaceutical company’s stock worth $46,710,000 after purchasing an additional 904,624 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in shares of Amarin by 395.7% during the 1st quarter. Frontier Capital Management Co. LLC now owns 1,021,731 shares of the biopharmaceutical company’s stock worth $21,211,000 after purchasing an additional 815,616 shares during the last quarter. Finally, Federated Investors Inc. PA raised its position in shares of Amarin by 56.9% during the 1st quarter. Federated Investors Inc. PA now owns 1,612,324 shares of the biopharmaceutical company’s stock worth $33,472,000 after purchasing an additional 585,000 shares during the last quarter. 47.62% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:AMRN traded down $0.82 during mid-day trading on Friday, hitting $18.08. The company’s stock had a trading volume of 28,493,068 shares, compared to its average volume of 10,641,162. Amarin has a 1 year low of $2.35 and a 1 year high of $23.91. 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 company has a market capitalization of $5.98 billion, a PE ratio of -46.36 and a beta of 1.18. The business’s fifty day moving average price is $19.67.

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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