-$0.09 EPS Expected for Amarin Co. plc (AMRN) This Quarter
Wall Street analysts predict that Amarin Co. plc (NASDAQ:AMRN) will post ($0.09) earnings per share for the current quarter, according to Zacks. Three analysts have provided estimates for Amarin’s earnings. The highest EPS estimate is ($0.08) and the lowest is ($0.10). Amarin reported earnings per share of ($0.04) during the same quarter last year, which would suggest a negative year over year growth rate of 125%. The company is scheduled to report its next earnings report on Wednesday, November 7th.
On average, analysts expect that Amarin will report full year earnings of ($0.42) per share for the current year, with EPS estimates ranging from ($0.53) to ($0.36). For the next fiscal year, analysts expect that the business will report earnings of ($0.13) per share, with EPS estimates ranging from ($0.44) to $0.12. Zacks’ earnings per share averages are a mean average based on a survey of research firms that cover Amarin.
Amarin (NASDAQ:AMRN) last issued its quarterly earnings data on Wednesday, August 1st. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.03). The business had revenue of $52.64 million during the quarter, compared to the consensus estimate of $54.88 million. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.04) earnings per share.
Shares of NASDAQ AMRN traded up $0.34 during midday trading on Monday, reaching $19.65. 20,482,459 shares of the company traded hands, compared to its average volume of 5,771,644. The stock has a market cap of $4.76 billion, a PE ratio of -78.60 and a beta of 0.32. Amarin has a 12 month low of $2.35 and a 12 month high of $21.05. The company has a debt-to-equity ratio of -1.25, a quick ratio of 1.13 and a current ratio of 1.43.
In related news, General Counsel Joseph T. Kennedy sold 50,249 shares of Amarin stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $16.81, for a total value of $844,685.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven B. Ketchum sold 879,241 shares of Amarin stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $11.10, for a total value of $9,759,575.10. The disclosure for this sale can be found here. Insiders sold 2,975,800 shares of company stock valued at $33,975,779 over the last ninety days. 4.08% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp increased its position in Amarin by 20.9% in the second quarter. Northern Trust Corp now owns 113,327 shares of the biopharmaceutical company’s stock worth $350,000 after purchasing an additional 19,590 shares during the period. BlackRock Inc. increased its position in Amarin by 1.4% in the second quarter. BlackRock Inc. now owns 3,392,430 shares of the biopharmaceutical company’s stock worth $10,482,000 after purchasing an additional 46,957 shares during the period. TD Asset Management Inc. increased its position in Amarin by 54.4% in the second quarter. TD Asset Management Inc. now owns 134,207 shares of the biopharmaceutical company’s stock worth $415,000 after purchasing an additional 47,300 shares during the period. Rock Springs Capital Management LP increased its position in Amarin by 1.3% in the first quarter. Rock Springs Capital Management LP now owns 4,000,000 shares of the biopharmaceutical company’s stock worth $12,040,000 after purchasing an additional 50,000 shares during the period. Finally, GSA Capital Partners LLP increased its position in Amarin by 66.3% in the second quarter. GSA Capital Partners LLP now owns 162,800 shares of the biopharmaceutical company’s stock worth $503,000 after purchasing an additional 64,900 shares during the period. 38.27% of the stock is owned by institutional investors and hedge funds.
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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