Amarin Co. plc (NASDAQ:AMRN) – Equities researchers at SunTrust Banks raised their FY2020 earnings estimates for shares of Amarin in a research note issued to investors on Monday, September 24th. SunTrust Banks analyst J. Boris now anticipates that the biopharmaceutical company will post earnings per share of $0.48 for the year, up from their prior estimate of $0.41. SunTrust Banks also issued estimates for Amarin’s FY2021 earnings at $0.75 EPS and FY2022 earnings at $1.13 EPS.
Several other research analysts also recently commented on AMRN. BidaskClub raised shares of Amarin from a “hold” rating to a “buy” rating in a report on Monday, June 18th. ValuEngine raised shares of Amarin from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Zacks Investment Research downgraded shares of Amarin from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Cantor Fitzgerald set a $10.00 price objective on shares of Amarin and gave the stock a “buy” rating in a report on Wednesday, May 30th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective (up from $10.00) on shares of Amarin in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $13.20.
AMRN opened at $13.45 on Thursday. The company has a market capitalization of $3.80 billion, a P/E ratio of -53.80 and a beta of 0.95. Amarin has a 12 month low of $2.35 and a 12 month high of $14.64. The company has a quick ratio of 1.13, a current ratio of 1.43 and a debt-to-equity ratio of -1.25.
Amarin (NASDAQ:AMRN) last released its earnings results on Wednesday, August 1st. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.03). The firm had revenue of $52.64 million for the quarter, compared to analysts’ expectations of $54.88 million. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.04) earnings per share.
Several institutional investors have recently bought and sold shares of the company. FMR LLC raised its position in shares of Amarin by 57.7% during the 2nd quarter. FMR LLC now owns 5,335,221 shares of the biopharmaceutical company’s stock valued at $16,486,000 after buying an additional 1,952,118 shares in the last quarter. Farallon Capital Management LLC purchased a new position in Amarin in the 1st quarter worth $13,726,000. Rock Springs Capital Management LP raised its position in Amarin by 1.3% in the 1st 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. BlackRock Inc. raised its position in Amarin by 1.4% in the 2nd 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. Finally, Sofinnova Ventures Inc purchased a new position in Amarin in the 1st quarter worth $9,998,000. Hedge funds and other institutional investors own 38.27% of the company’s stock.
In other news, CFO Michael Wayne Kalb sold 150,000 shares of the firm’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $10.42, for a total transaction of $1,563,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Joseph T. Kennedy sold 26,942 shares of the firm’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $3.00, for a total transaction of $80,826.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,635,889 shares of company stock valued at $28,105,096. Insiders own 4.08% of the company’s stock.
Amarin Company Profile
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.
See Also: What is a stock split?
Receive News & Ratings for Amarin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amarin and related companies with MarketBeat.com's FREE daily email newsletter.