Wall Street analysts predict that Amarin Co. plc (NASDAQ:AMRN) will report sales of $50.30 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Amarin’s earnings, with the lowest sales estimate coming in at $49.00 million and the highest estimate coming in at $52.60 million. Amarin posted sales of $38.70 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 30%. The business is expected to announce its next quarterly earnings report on Tuesday, February 27th.

On average, analysts expect that Amarin will report full year sales of $50.30 million for the current fiscal year, with estimates ranging from $175.40 million to $179.90 million. For the next fiscal year, analysts anticipate that the company will post sales of $285.23 million per share, with estimates ranging from $223.30 million to $385.10 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Amarin.

Amarin (NASDAQ:AMRN) last announced its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $47.10 million for the quarter, compared to analysts’ expectations of $45.85 million. Amarin’s quarterly revenue was up 45.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.08) earnings per share.

Several research firms have recently weighed in on AMRN. Cantor Fitzgerald set a $10.00 price target on Amarin and gave the stock a “buy” rating in a research report on Wednesday. ValuEngine lowered Amarin from a “hold” rating to a “sell” rating in a research report on Thursday, November 16th. Zacks Investment Research downgraded Amarin from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of Amarin in a research note on Thursday, November 2nd. Finally, Jefferies Group restated a “buy” rating on shares of Amarin in a research note on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Amarin has a consensus rating of “Hold” and an average price target of $7.75.

In other Amarin news, insider Steven B. Ketchum sold 63,479 shares of the stock in a transaction on Thursday, October 5th. The stock was 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 Securities & Exchange Commission, which is available at this hyperlink. Also, insider John F. Thero purchased 10,000 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was acquired at an average price of $3.24 per share, with a total value of $32,400.00. The disclosure for this purchase can be found here. Insiders own 3.72% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Neuberger Berman Group LLC acquired a new position in Amarin during the third quarter valued at $350,000. Alkeon Capital Management LLC acquired a new position in Amarin during the third quarter valued at $7,875,000. Cubist Systematic Strategies LLC purchased a new position in Amarin in the third quarter valued at $226,000. University of Notre Dame DU Lac purchased a new position in Amarin in the third quarter valued at $2,814,000. Finally, TD Asset Management Inc. purchased a new position in Amarin in the third quarter valued at $285,000. Institutional investors own 40.17% of the company’s stock.

Shares of Amarin (NASDAQ:AMRN) traded up $0.08 on Wednesday, hitting $3.14. The stock had a trading volume of 1,243,615 shares, compared to its average volume of 1,712,315. 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 one year low of $2.81 and a one year high of $4.47.

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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.

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Earnings History and Estimates for Amarin (NASDAQ:AMRN)

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