Wall Street brokerages forecast that Amarin Co. plc (NASDAQ:AMRN) will announce $72.85 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Amarin’s earnings, with the lowest sales estimate coming in at $65.90 million and the highest estimate coming in at $79.80 million. Amarin posted sales of $43.92 million during the same quarter last year, which indicates a positive year-over-year growth rate of 65.9%. The company is scheduled to issue its next quarterly earnings report on Wednesday, May 1st.
On average, analysts expect that Amarin will report full year sales of $368.85 million for the current year, with estimates ranging from $351.70 million to $386.00 million. For the next year, analysts forecast that the business will post sales of $589.20 million, with estimates ranging from $515.00 million to $663.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Amarin.
Amarin (NASDAQ:AMRN) last announced its quarterly earnings data on Wednesday, February 27th. The biopharmaceutical company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The firm had revenue of $77.30 million during the quarter, compared to analysts’ expectations of $73.87 million. The company’s revenue was up 43.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.08) EPS.
In other Amarin news, insider Steven B. Ketchum sold 17,041 shares of the stock in a transaction that occurred on Monday, December 31st. The stock was sold at an average price of $13.51, for a total value of $230,223.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lars Ekman sold 135,377 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $21.31, for a total value of $2,884,883.87. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,841,072 shares of company stock worth $49,748,088. 4.08% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. purchased a new stake in Amarin in the 4th quarter worth approximately $34,000. Global Retirement Partners LLC lifted its holdings in Amarin by 266.3% in the 4th quarter. Global Retirement Partners LLC now owns 2,612 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 1,899 shares during the period. Neuburgh Advisers LLC purchased a new stake in Amarin in the 4th quarter worth approximately $36,000. Lindbrook Capital LLC purchased a new stake in Amarin in the 4th quarter worth approximately $40,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in Amarin in the 4th quarter worth approximately $80,000. Institutional investors and hedge funds own 48.30% of the company’s stock.
Shares of Amarin stock traded down $1.25 during trading on Thursday, hitting $17.51. 8,302,168 shares of the stock traded hands, compared to its average volume of 9,473,905. The company has a current ratio of 2.40, a quick ratio of 2.04 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $5.65 billion, a PE ratio of -44.90 and a beta of 1.29. Amarin has a 52 week low of $2.35 and a 52 week high of $23.33.
Amarin Company Profile
Amarin Corporation plc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States. The company's lead product is Vascepa, a prescription-only omega-3 fatty acid capsule, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.
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