Cantor Fitzgerald Comments on Amarin Corp. PLC’s FY2016 Earnings (AMRN)
Amarin Corp. PLC (NASDAQ:AMRN) – Cantor Fitzgerald issued their FY2016 earnings per share estimates for Amarin Corp. PLC in a report issued on Monday. Cantor Fitzgerald analyst C. Russo forecasts that the brokerage will post earnings of ($0.29) per share for the year. Cantor Fitzgerald currently has a “Buy” rating and a $6.00 price target on the stock. Cantor Fitzgerald also issued estimates for Amarin Corp. PLC’s FY2017 earnings at ($0.14) EPS.
Amarin Corp. PLC (NASDAQ:AMRN) last released its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. The company earned $32.82 million during the quarter, compared to the consensus estimate of $29.97 million. The firm’s revenue was up 85.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.15) earnings per share.
Several other research firms also recently weighed in on AMRN. Zacks Investment Research raised shares of Amarin Corp. PLC from a “hold” rating to a “buy” rating and set a $3.75 price target for the company in a research note on Thursday, August 4th. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Amarin Corp. PLC in a research note on Monday, August 8th. Finally, Jefferies Group reiterated a “buy” rating and set a $3.50 price objective on shares of Amarin Corp. PLC in a report on Thursday, July 7th.
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Amarin Corp. PLC (NASDAQ:AMRN) traded down 3.035% on Wednesday, reaching $3.035. 1,218,064 shares of the company’s stock traded hands. The stock’s market cap is $560.11 million. Amarin Corp. PLC has a 52-week low of $1.24 and a 52-week high of $3.46. The company’s 50 day moving average is $3.00 and its 200-day moving average is $2.36.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Group AG boosted its position in Amarin Corp. PLC by 6.5% in the first quarter. UBS Group AG now owns 551,920 shares of the biopharmaceutical company’s stock valued at $845,000 after buying an additional 33,662 shares during the period. Acadian Asset Management LLC purchased a new position in Amarin Corp. PLC during the second quarter valued at $210,000. Timber Hill LLC boosted its position in Amarin Corp. PLC by 229.8% in the second quarter. Timber Hill LLC now owns 53,504 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 37,283 shares during the period. Ameriprise Financial Inc. boosted its position in Amarin Corp. PLC by 9.3% in the second quarter. Ameriprise Financial Inc. now owns 1,187,983 shares of the biopharmaceutical company’s stock valued at $2,567,000 after buying an additional 101,112 shares during the period. Finally, ProShare Advisors LLC boosted its position in Amarin Corp. PLC by 0.9% in the second quarter. ProShare Advisors LLC now owns 132,338 shares of the biopharmaceutical company’s stock valued at $286,000 after buying an additional 1,180 shares during the period. Hedge funds and other institutional investors own 20.74% of the company’s stock.
Amarin Corp. PLC Company Profile
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’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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