FY2018 EPS Estimates for Amarin Corporation PLC (NASDAQ:AMRN) Cut by SunTrust Banks
Amarin Corporation PLC (NASDAQ:AMRN) – Equities researchers at SunTrust Banks cut their FY2018 earnings per share (EPS) estimates for shares of Amarin Corporation PLC in a report released on Wednesday. SunTrust Banks analyst J. Boris now anticipates that the biopharmaceutical company will post earnings of ($0.11) per share for the year, down from their previous forecast of $0.01. SunTrust Banks also issued estimates for Amarin Corporation PLC’s FY2019 earnings at $0.15 EPS.
Amarin Corporation PLC (NASDAQ:AMRN) last released its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. The company had revenue of $44.95 million for the quarter, compared to analysts’ expectations of $40.35 million. During the same period in the prior year, the business earned ($0.07) EPS. The business’s quarterly revenue was up 37.0% compared to the same quarter last year.
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Other research analysts have also recently issued reports about the stock. BidaskClub upgraded shares of Amarin Corporation PLC from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Jefferies Group LLC increased their price objective on shares of Amarin Corporation PLC from $5.00 to $7.00 and gave the company a “buy” rating in a report on Friday, June 30th. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Amarin Corporation PLC in a report on Wednesday, June 28th. Cantor Fitzgerald set a $5.00 price objective on shares of Amarin Corporation PLC and gave the company a “buy” rating in a report on Monday, June 12th. Finally, Zacks Investment Research upgraded shares of Amarin Corporation PLC from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a report on Tuesday, July 11th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $7.35.
Shares of Amarin Corporation PLC (NASDAQ AMRN) traded down 2.714% during midday trading on Monday, reaching $3.405. 1,441,548 shares of the company were exchanged. The stock’s market capitalization is $922.07 million. Amarin Corporation PLC has a 52-week low of $2.56 and a 52-week high of $4.47. The company’s 50-day moving average price is $3.83 and its 200 day moving average price is $3.30.
In related news, General Counsel Joseph T. Kennedy sold 307,911 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $4.00, for a total transaction of $1,231,644.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.72% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in AMRN. Wells Fargo & Company MN raised its stake in Amarin Corporation PLC by 4.8% in the first quarter. Wells Fargo & Company MN now owns 32,801 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 1,500 shares in the last quarter. Perkins Capital Management Inc. acquired a new stake in Amarin Corporation PLC during the first quarter valued at approximately $110,000. JPMorgan Chase & Co. raised its stake in Amarin Corporation PLC by 27.1% in the first quarter. JPMorgan Chase & Co. now owns 35,590 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 7,580 shares in the last quarter. Private Advisor Group LLC raised its stake in Amarin Corporation PLC by 2.1% in the first quarter. Private Advisor Group LLC now owns 50,170 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 1,032 shares in the last quarter. Finally, Airain ltd raised its stake in Amarin Corporation PLC by 382.9% in the second quarter. Airain ltd now owns 87,122 shares of the biopharmaceutical company’s stock valued at $351,000 after buying an additional 69,081 shares in the last quarter. 37.57% of the stock is owned by institutional investors and hedge funds.
About Amarin Corporation PLC
Amarin Corporation plc is a biopharmaceutical company with operations in lipid science focused on the commercialization and development of therapeutics for cardiovascular health. The Company operates through the development and commercialization of Vascepa segment. The Company’s lead product, Vascepa (icosapent ethyl) capsule, is approved by the United States Food and Drug Administration (FDA) for use as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia.
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