Jefferies Group Research Analysts Cut Earnings Estimates for Amarin Corporation PLC (AMRN)
Amarin Corporation PLC (NASDAQ:AMRN) – Research analysts at Jefferies Group cut their FY2018 earnings per share estimates for Amarin Corporation PLC in a research report issued to clients and investors on Thursday. Jefferies Group analyst M. Andrews now expects that the biopharmaceutical company will earn ($0.09) per share for the year, down from their prior forecast of ($0.07). Jefferies Group currently has a “Buy” rating on the stock.
Amarin Corporation PLC (NASDAQ:AMRN) last issued its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $47.10 million during the quarter, compared to analyst estimates of $45.85 million. During the same period in the prior year, the company posted ($0.08) earnings per share. The company’s revenue was up 45.4% on a year-over-year basis.
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Other research analysts have also issued research reports about the stock. ValuEngine upgraded shares of Amarin Corporation PLC from a “sell” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research downgraded shares of Amarin Corporation PLC from a “buy” rating to a “hold” rating in a report on Friday. HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Amarin Corporation PLC in a report on Thursday. Cantor Fitzgerald set a $10.00 price target on shares of Amarin Corporation PLC and gave the company a “buy” rating in a report on Wednesday, November 1st. Finally, BidaskClub cut shares of Amarin Corporation PLC from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $7.75.
Amarin Corporation PLC (NASDAQ:AMRN) traded up $0.06 during mid-day trading on Monday, hitting $3.67. 753,717 shares of the stock were exchanged, compared to its average volume of 1,243,933. Amarin Corporation PLC has a twelve month low of $2.76 and a twelve month high of $4.47. The company has a current ratio of 1.63, a quick ratio of 1.32 and a debt-to-equity ratio of -1.48.
In other news, insider Steven B. Ketchum sold 63,479 shares of the firm’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $3.48, for a total value of $220,906.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.72% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake in shares of Amarin Corporation PLC by 348.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,730,200 shares of the biopharmaceutical company’s stock valued at $5,537,000 after purchasing 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 1st quarter. Morgan Stanley now owns 1,138,992 shares of the biopharmaceutical company’s stock valued at $3,645,000 after purchasing 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 1st quarter. UBS Group AG now owns 731,518 shares of the biopharmaceutical company’s stock valued at $2,341,000 after purchasing an additional 50,200 shares during the last quarter. California Public Employees Retirement System boosted its stake in Amarin Corporation PLC by 13.3% during the 1st quarter. California Public Employees Retirement System now owns 533,300 shares of the biopharmaceutical company’s stock worth $1,707,000 after acquiring an additional 62,800 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Amarin Corporation PLC by 0.9% during the 1st quarter. Ameriprise Financial Inc. now owns 395,769 shares of the biopharmaceutical company’s stock worth $1,266,000 after acquiring an additional 3,413 shares during the last quarter. 37.65% of the stock is currently 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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