Analysts Offer Predictions for Amarin Co. plc’s Q1 2019 Earnings (AMRN)
Amarin Co. plc (NASDAQ:AMRN) – Equities researchers at Jefferies Financial Group issued their Q1 2019 earnings estimates for shares of Amarin in a report issued on Thursday, November 8th. Jefferies Financial Group analyst M. Yee anticipates that the biopharmaceutical company will post earnings per share of ($0.10) for the quarter. Jefferies Financial Group has a “Buy” rating and a $15.00 price target on the stock. Jefferies Financial Group also issued estimates for Amarin’s Q2 2019 earnings at ($0.08) EPS, Q3 2019 earnings at ($0.07) EPS and Q4 2019 earnings at ($0.07) EPS.
Several other equities research analysts have also recently commented on AMRN. Cantor Fitzgerald set a $10.00 target price on Amarin and gave the stock a “buy” rating in a report on Wednesday, July 18th. Zacks Investment Research lowered shares of Amarin from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. ValuEngine lowered shares of Amarin from a “buy” rating to a “hold” rating in a research report on Saturday, July 28th. Finally, BidaskClub upgraded shares of Amarin from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Amarin has an average rating of “Buy” and a consensus price target of $27.80.
Amarin (NASDAQ:AMRN) last announced its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.01. The firm had revenue of $55.00 million for the quarter, compared to the consensus estimate of $60.63 million. During the same period in the previous year, the firm earned ($0.04) EPS. Amarin’s revenue for the quarter was up 16.8% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently bought and sold shares of AMRN. Signature Estate & Investment Advisors LLC purchased a new position in Amarin during the 3rd quarter worth approximately $137,000. BKS Advisors LLC purchased a new position in Amarin during the 3rd quarter worth approximately $162,000. Northern Trust Corp grew its position in Amarin by 20.9% during the 2nd quarter. Northern Trust Corp now owns 113,327 shares of the biopharmaceutical company’s stock worth $350,000 after purchasing an additional 19,590 shares in the last quarter. Trexquant Investment LP purchased a new position in Amarin during the 3rd quarter worth approximately $358,000. Finally, MML Investors Services LLC grew its position in Amarin by 66.4% during the 3rd quarter. MML Investors Services LLC now owns 23,336 shares of the biopharmaceutical company’s stock worth $380,000 after purchasing an additional 9,316 shares in the last quarter. Hedge funds and other institutional investors own 39.44% of the company’s stock.
In other Amarin news, CFO Michael Wayne Kalb sold 150,000 shares of Amarin stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $10.42, for a total transaction of $1,563,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Joseph T. Kennedy sold 23,307 shares of Amarin stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $20.74, for a total transaction of $483,387.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,016,149 shares of company stock worth $34,812,617. 4.08% of the stock is currently owned by company insiders.
Amarin Company Profile
Amarin Corporation plc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States. The company's lead product is Vascepa, a prescription-only omega-3 fatty acid capsule, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.
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