Amarin Co. plc (NASDAQ:AMRN) – Equities researchers at SunTrust Banks lowered their FY2019 earnings estimates for Amarin in a report issued on Friday, Zacks Investment Research reports. SunTrust Banks analyst J. Boris now forecasts that the biopharmaceutical company will post earnings per share of $0.17 for the year, down from their prior forecast of $0.18. SunTrust Banks also issued estimates for Amarin’s FY2020 earnings at $0.61 EPS and FY2021 earnings at $0.81 EPS.
Amarin (NASDAQ:AMRN) last announced its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The firm had revenue of $53.87 million during the quarter, compared to the consensus estimate of $52.73 million. Amarin’s quarterly revenue was up 39.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.10) EPS.
Several other analysts also recently weighed in on AMRN. ValuEngine downgraded Amarin from a “hold” rating to a “sell” rating in a research note on Thursday, November 16th. Cantor Fitzgerald set a $10.00 target price on Amarin and gave the company a “buy” rating in a research note on Wednesday, December 6th. Zacks Investment Research cut shares of Amarin from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Finally, BidaskClub raised shares of Amarin from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.75.
Shares of Amarin (AMRN) traded down $0.14 during trading on Monday, hitting $3.61. The stock had a trading volume of 1,087,167 shares, compared to its average volume of 2,151,721. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of -1.12. The firm has a market capitalization of $1,070.00, a P/E ratio of -14.56 and a beta of 0.57. Amarin has a 12 month low of $2.85 and a 12 month high of $4.60.
A number of hedge funds and other institutional investors have recently modified their holdings of AMRN. State Street Corp increased its stake in shares of Amarin by 1.3% during the second quarter. State Street Corp now owns 201,995 shares of the biopharmaceutical company’s stock valued at $814,000 after acquiring an additional 2,640 shares during the period. Wells Fargo & Company MN increased its stake in shares of Amarin by 15.2% during the second quarter. Wells Fargo & Company MN now owns 37,801 shares of the biopharmaceutical company’s stock valued at $152,000 after acquiring an additional 5,000 shares during the period. LPL Financial LLC increased its stake in shares of Amarin by 12.3% during the fourth quarter. LPL Financial LLC now owns 143,642 shares of the biopharmaceutical company’s stock valued at $576,000 after acquiring an additional 15,782 shares during the period. Paloma Partners Management Co acquired a new position in shares of Amarin during the fourth quarter valued at approximately $141,000. Finally, Hoylecohen LLC acquired a new position in shares of Amarin during the fourth quarter valued at approximately $142,000. 38.20% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Steven B. Ketchum sold 128,257 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $4.25, for a total transaction of $545,092.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven B. Ketchum sold 64,683 shares of the stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $4.40, for a total transaction of $284,605.20. The disclosure for this sale can be found here. Insiders have sold 426,720 shares of company stock worth $1,814,296 in the last ninety days. Corporate insiders own 3.72% of the company’s stock.
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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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