Jefferies Group Comments on Amarin Co. plc’s FY2018 Earnings (AMRN)

Amarin Co. plc (NASDAQ:AMRN) – Jefferies Group decreased their FY2018 earnings per share (EPS) estimates for shares of Amarin in a research note issued to investors on Tuesday. Jefferies Group analyst M. Andrews now forecasts that the biopharmaceutical company will earn ($0.23) per share for the year, down from their prior forecast of ($0.09). Jefferies Group also issued estimates for Amarin’s FY2019 earnings at ($0.02) EPS.

Several other analysts also recently commented on the stock. Cantor Fitzgerald set a $10.00 target price on shares of Amarin and gave the company a “buy” rating in a report on Wednesday, December 13th. ValuEngine lowered shares of Amarin from a “hold” rating to a “sell” rating in a research report on Thursday, November 16th. Zacks Investment Research lowered shares of Amarin from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Finally, BidaskClub upgraded shares of Amarin from a “hold” rating to a “buy” rating in a research report on Friday, December 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $7.75.

Shares of Amarin (NASDAQ:AMRN) traded up $0.10 during mid-day trading on Thursday, hitting $3.63. 1,286,900 shares of the stock traded hands, compared to its average volume of 2,477,182. The stock has a market capitalization of $1,023.89, a P/E ratio of -13.49 and a beta of 0.50. The company has a debt-to-equity ratio of -1.48, a quick ratio of 1.32 and a current ratio of 1.63. Amarin has a 52 week low of $2.85 and a 52 week high of $4.60.

In related news, General Counsel Joseph T. Kennedy sold 51,106 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $4.10, for a total transaction of $209,534.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Joseph T. Kennedy sold 44,857 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $3.73, for a total transaction of $167,316.61. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 426,720 shares of company stock valued at $1,814,296. 3.72% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. Paloma Partners Management Co bought a new position in Amarin during the fourth quarter worth about $141,000. Hoylecohen LLC bought a new position in Amarin during the fourth quarter worth about $142,000. Wells Fargo & Company MN boosted its position in Amarin by 15.2% during the second quarter. Wells Fargo & Company MN now owns 37,801 shares of the biopharmaceutical company’s stock worth $152,000 after purchasing an additional 5,000 shares during the period. Cubist Systematic Strategies LLC bought a new position in Amarin during the third quarter worth about $226,000. Finally, Stevens Capital Management LP bought a new position in Amarin during the third quarter worth about $229,000. Hedge funds and other institutional investors own 40.26% of the company’s stock.

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About Amarin

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 (NASDAQ:AMRN)

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