Analysts Anticipate Amarin Co. plc (AMRN) Will Post Quarterly Sales of $72.23 Million

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Wall Street brokerages expect that Amarin Co. plc (NASDAQ:AMRN) will report sales of $72.23 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Amarin’s earnings. The highest sales estimate is $79.80 million and the lowest is $65.90 million. Amarin reported sales of $43.92 million during the same quarter last year, which indicates a positive year-over-year growth rate of 64.5%. The firm is expected to report its next earnings report on Wednesday, May 1st.

According to Zacks, analysts expect that Amarin will report full-year sales of $370.57 million for the current year, with estimates ranging from $351.70 million to $386.00 million. For the next fiscal year, analysts anticipate that the company will post sales of $581.47 million, with estimates ranging from $515.00 million to $663.40 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Amarin.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings results on Wednesday, February 27th. The biopharmaceutical company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.03). The firm had revenue of $77.30 million for the quarter, compared to analysts’ expectations of $73.87 million. During the same quarter last year, the firm earned ($0.08) earnings per share. Amarin’s revenue was up 43.4% on a year-over-year basis.

Several research firms recently commented on AMRN. BidaskClub lowered shares of Amarin from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. Stifel Nicolaus began coverage on shares of Amarin in a report on Thursday, March 21st. They set a “buy” rating and a $27.00 target price on the stock. Cantor Fitzgerald set a $35.00 target price on shares of Amarin and gave the company a “buy” rating in a report on Friday, December 28th. Citigroup reduced their target price on shares of Amarin to $20.00 in a report on Tuesday, January 8th. Finally, Zacks Investment Research raised shares of Amarin from a “sell” rating to a “hold” rating in a report on Wednesday, January 23rd. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $32.17.

In other Amarin news, Director Joseph S. Zakrzewski sold 526,500 shares of the stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $13.07, for a total transaction of $6,881,355.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Wayne Kalb sold 100,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $22.09, for a total transaction of $2,209,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,841,072 shares of company stock worth $49,748,088. 4.08% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in AMRN. Northern Trust Corp boosted its position in Amarin by 20.9% during the 2nd quarter. Northern Trust Corp now owns 113,327 shares of the biopharmaceutical company’s stock valued at $350,000 after buying an additional 19,590 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in shares of Amarin by 165.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,125 shares of the biopharmaceutical company’s stock worth $506,000 after purchasing an additional 19,400 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Amarin by 113.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 76,916 shares of the biopharmaceutical company’s stock worth $1,251,000 after purchasing an additional 40,844 shares during the period. MML Investors Services LLC lifted its position in shares of Amarin by 66.4% in the 3rd quarter. MML Investors Services LLC now owns 23,336 shares of the biopharmaceutical company’s stock worth $380,000 after purchasing an additional 9,316 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Amarin in the 3rd quarter worth about $631,000. 48.31% of the stock is owned by institutional investors and hedge funds.

Shares of AMRN stock traded up $0.36 on Thursday, hitting $18.44. 19,954,007 shares of the company’s stock traded hands, compared to its average volume of 8,598,068. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.04 and a current ratio of 2.40. Amarin has a one year low of $2.35 and a one year high of $23.33. The firm has a market cap of $5.84 billion, a P/E ratio of -47.28 and a beta of 1.29.

About Amarin

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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