Brokerages Anticipate Amarin Co. plc (NASDAQ:AMRN) Will Announce Quarterly Sales of $146.73 Million

Brokerages expect Amarin Co. plc (NASDAQ:AMRN) to announce sales of $146.73 million for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Amarin’s earnings, with the lowest sales estimate coming in at $125.25 million and the highest estimate coming in at $156.00 million. Amarin posted sales of $100.79 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 45.6%. The firm is scheduled to announce its next earnings report on Wednesday, July 29th.

According to Zacks, analysts expect that Amarin will report full year sales of $664.29 million for the current financial year, with estimates ranging from $605.74 million to $700.30 million. For the next fiscal year, analysts anticipate that the business will post sales of $824.21 million, with estimates ranging from $270.80 million to $1.10 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Amarin.

Amarin (NASDAQ:AMRN) last announced its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Amarin had a negative net margin of 3.67% and a negative return on equity of 4.05%. The firm had revenue of $155.00 million for the quarter, compared to analyst estimates of $150.06 million. During the same period in the previous year, the company earned ($0.05) earnings per share. The business’s quarterly revenue was up 111.5% compared to the same quarter last year.

A number of brokerages have weighed in on AMRN. Jefferies Financial Group downgraded shares of Amarin from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $30.00 to $4.00 in a research report on Tuesday, March 31st. Zacks Investment Research upgraded shares of Amarin from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Thursday, March 5th. BidaskClub downgraded shares of Amarin from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 30th. Citigroup upped their price objective on shares of Amarin from $6.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Aegis upped their price target on shares of Amarin from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. Amarin has an average rating of “Buy” and an average price target of $17.21.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NWK Group Inc. purchased a new stake in Amarin during the 4th quarter valued at about $47,000. Partner Investment Management L.P. acquired a new stake in shares of Amarin in the 4th quarter valued at $81,000. Sunbelt Securities Inc. acquired a new stake in shares of Amarin in the 4th quarter valued at $24,924,000. Exane Derivatives acquired a new stake in shares of Amarin in the 1st quarter valued at $29,000. Finally, Amundi Pioneer Asset Management Inc. raised its holdings in shares of Amarin by 13.7% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 7,394 shares of the biopharmaceutical company’s stock valued at $158,000 after purchasing an additional 893 shares in the last quarter. 44.36% of the stock is owned by institutional investors.

NASDAQ:AMRN traded down $0.22 during mid-day trading on Friday, hitting $6.70. The company’s stock had a trading volume of 5,024,867 shares, compared to its average volume of 6,895,756. The business’s fifty day moving average is $7.12 and its two-hundred day moving average is $13.23. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -111.67 and a beta of 2.71. Amarin has a 1 year low of $3.95 and a 1 year high of $26.12.

Amarin Company Profile

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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