Zacks: Brokerages Anticipate Amarin Co. plc (AMRN) Will Announce Quarterly Sales of $72.23 Million

Analysts predict that Amarin Co. plc (NASDAQ:AMRN) will post sales of $72.23 million for the current quarter, according to Zacks. Three analysts have issued estimates for Amarin’s earnings. The highest sales estimate is $79.80 million and the lowest is $65.90 million. Amarin posted sales of $43.92 million during the same quarter last year, which suggests a positive year-over-year growth rate of 64.5%. The firm is expected to report its next earnings report on Wednesday, May 1st.

On average, analysts expect that Amarin will report full-year sales of $370.57 million for the current fiscal year, with estimates ranging from $351.70 million to $386.00 million. For the next year, analysts anticipate that the company will post sales of $581.47 million, with estimates ranging from $515.00 million to $663.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Amarin.

Amarin (NASDAQ:AMRN) last announced its earnings results on Wednesday, February 27th. The biopharmaceutical company reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.03). The business had revenue of $77.30 million during the quarter, compared to analysts’ expectations of $73.87 million. The company’s revenue for the quarter was up 43.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.08) earnings per share.

Several research analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating on shares of Amarin in a report on Monday, April 1st. Stifel Nicolaus assumed coverage on Amarin in a report on Thursday, March 21st. They set a “buy” rating and a $27.00 target price on the stock. BidaskClub downgraded Amarin from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. Zacks Investment Research raised Amarin from a “sell” rating to a “hold” rating in a report on Wednesday, January 23rd. Finally, Citigroup cut their target price on Amarin to $20.00 in a report on Tuesday, January 8th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $32.17.

In other news, insider Steven B. Ketchum sold 37,530 shares of the business’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $17.17, for a total value of $644,390.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael Wayne Kalb sold 25,000 shares of the business’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $17.58, for a total value of $439,500.00. The disclosure for this sale can be found here. Insiders sold a total of 1,990,713 shares of company stock worth $38,012,187 over the last three months. 4.08% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in AMRN. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Amarin in the 4th quarter valued at about $34,000. Neuburgh Advisers LLC acquired a new position in Amarin during the 4th quarter worth approximately $36,000. Global Retirement Partners LLC raised its stake in Amarin by 266.3% during the 4th quarter. Global Retirement Partners LLC now owns 2,612 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 1,899 shares during the period. Lindbrook Capital LLC acquired a new position in Amarin during the 4th quarter worth approximately $40,000. Finally, Financial Advocates Investment Management raised its stake in Amarin by 45.0% during the 4th quarter. Financial Advocates Investment Management now owns 29,000 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 9,000 shares during the period. 48.32% of the stock is currently owned by institutional investors.

AMRN traded up $0.40 during midday trading on Friday, hitting $18.06. 4,877,966 shares of the company were exchanged, compared to its average volume of 8,217,113. The company has a market capitalization of $5.83 billion, a PE ratio of -46.31 and a beta of 1.27. Amarin has a 1-year low of $2.35 and a 1-year high of $23.33. The company has a current ratio of 2.40, a quick ratio of 2.04 and a debt-to-equity ratio of 0.35.

About Amarin

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.

Recommended Story: What Are Cryptocurrencies?

Get a free copy of the Zacks research report on Amarin (AMRN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Amarin (NASDAQ:AMRN)

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.