Amarin Corporation PLC (NASDAQ:AMRN) – Investment analysts at SunTrust Banks reduced their FY2018 earnings estimates for Amarin Corporation PLC in a note issued to investors on Wednesday. SunTrust Banks analyst J. Boris now forecasts that the biopharmaceutical company will post earnings of ($0.11) per share for the year, down from their prior forecast of $0.01. SunTrust Banks also issued estimates for Amarin Corporation PLC’s FY2019 earnings at $0.15 EPS.

Amarin Corporation PLC (NASDAQ:AMRN) last released its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The firm had revenue of $44.95 million during the quarter, compared to analyst estimates of $40.35 million. The business’s revenue was up 37.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.07) EPS.

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Several other brokerages have also recently commented on AMRN. BidaskClub raised Amarin Corporation PLC from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Zacks Investment Research raised Amarin Corporation PLC from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Jefferies Group LLC boosted their target price on Amarin Corporation PLC from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Friday, June 30th. HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Amarin Corporation PLC in a report on Thursday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Amarin Corporation PLC in a report on Monday, June 26th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $7.35.

Shares of Amarin Corporation PLC (AMRN) opened at 3.67 on Monday. The firm’s market cap is $993.83 million. The company has a 50 day moving average price of $3.77 and a 200-day moving average price of $3.29. Amarin Corporation PLC has a 12-month low of $2.56 and a 12-month high of $4.47.

A number of large investors have recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new stake in shares of Amarin Corporation PLC during the first quarter valued at approximately $960,000. Renaissance Technologies LLC boosted its stake in shares of Amarin Corporation PLC by 348.2% in the first quarter. Renaissance Technologies LLC now owns 1,730,200 shares of the biopharmaceutical company’s stock valued at $5,537,000 after buying an additional 1,344,200 shares during the last quarter. Morgan Stanley boosted its stake in shares of Amarin Corporation PLC by 119.7% in the first quarter. Morgan Stanley now owns 1,138,992 shares of the biopharmaceutical company’s stock valued at $3,645,000 after buying an additional 620,577 shares during the last quarter. UBS Group AG boosted its stake in shares of Amarin Corporation PLC by 7.4% in the first quarter. UBS Group AG now owns 731,518 shares of the biopharmaceutical company’s stock valued at $2,341,000 after buying an additional 50,200 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Amarin Corporation PLC by 13.3% in the first quarter. California Public Employees Retirement System now owns 533,300 shares of the biopharmaceutical company’s stock valued at $1,707,000 after buying an additional 62,800 shares during the last quarter. 37.57% of the stock is currently owned by hedge funds and other institutional investors.

In related news, General Counsel Joseph T. Kennedy sold 307,911 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $4.00, for a total transaction of $1,231,644.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.72% of the stock is owned by insiders.

Amarin Corporation 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 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.

Earnings History and Estimates for Amarin Corporation PLC (NASDAQ:AMRN)

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