Amarin Corporation PLC (NASDAQ:AMRN) to Post FY2017 Earnings of ($0.23) Per Share, Jefferies Group Forecasts
Amarin Corporation PLC (NASDAQ:AMRN) – Equities research analysts at Jefferies Group boosted their FY2017 earnings estimates for shares of Amarin Corporation PLC in a research note issued on Wednesday. Jefferies Group analyst M. Andrews now forecasts that the biopharmaceutical company will post earnings per share of ($0.23) for the year, up from their prior forecast of ($0.25). Jefferies Group has a “Buy” rating and a $7.00 price objective on the stock. Jefferies Group also issued estimates for Amarin Corporation PLC’s Q4 2017 earnings at ($0.04) EPS.
A number of other analysts have also recently commented on AMRN. Zacks Investment Research cut shares of Amarin Corporation PLC from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Amarin Corporation PLC in a research note on Thursday, June 1st. Cantor Fitzgerald set a $5.00 target price on shares of Amarin Corporation PLC and gave the stock a “buy” rating in a research note on Monday, June 12th. Finally, BidaskClub upgraded shares of Amarin Corporation PLC from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $7.35.
Amarin Corporation PLC (NASDAQ AMRN) opened at 3.67 on Monday. The stock’s 50 day moving average is $3.77 and its 200 day moving average is $3.29. Amarin Corporation PLC has a 12-month low of $2.56 and a 12-month high of $4.47. The stock’s market capitalization is $993.83 million.
Amarin Corporation PLC (NASDAQ:AMRN) last released its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. The company had revenue of $44.95 million for the quarter, compared to analysts’ expectations of $40.35 million. During the same period in the previous year, the firm earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 37.0% on a year-over-year basis.
In other Amarin Corporation PLC news, General Counsel Joseph T. Kennedy sold 307,911 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $4.00, for a total transaction of $1,231,644.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.72% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC raised its position in Amarin Corporation PLC by 662.8% in the fourth quarter. Renaissance Technologies LLC now owns 386,000 shares of the biopharmaceutical company’s stock worth $1,189,000 after buying an additional 335,400 shares in the last quarter. Ameriprise Financial Inc. raised its position in Amarin Corporation PLC by 0.9% in the first quarter. Ameriprise Financial Inc. now owns 395,769 shares of the biopharmaceutical company’s stock worth $1,266,000 after buying an additional 3,413 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Amarin Corporation PLC during the first quarter worth about $960,000. Quantitative Investment Management LLC raised its position in Amarin Corporation PLC by 105.1% in the first quarter. Quantitative Investment Management LLC now owns 187,900 shares of the biopharmaceutical company’s stock worth $601,000 after buying an additional 96,300 shares in the last quarter. Finally, Perkins Capital Management Inc. raised its position in Amarin Corporation PLC by 20.3% in the second quarter. Perkins Capital Management Inc. now owns 41,500 shares of the biopharmaceutical company’s stock worth $167,000 after buying an additional 7,000 shares in the last quarter. 37.57% of the stock is owned by institutional investors.
About Amarin Corporation PLC
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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