Zacks: Brokerages Expect Amarin Co. plc (AMRN) to Announce -$0.07 EPS

Wall Street analysts expect that Amarin Co. plc (NASDAQ:AMRN) will report earnings of ($0.07) per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Amarin Co. plc’s earnings, with the highest EPS estimate coming in at ($0.06) and the lowest estimate coming in at ($0.08). Amarin Co. plc posted earnings of ($0.11) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 36.4%. The firm is expected to announce its next earnings report on Thursday, August 3rd.

On average, analysts expect that Amarin Co. plc will report full-year earnings of ($0.23) per share for the current year, with EPS estimates ranging from ($0.29) to ($0.18). For the next financial year, analysts forecast that the firm will post earnings of $0.03 per share, with EPS estimates ranging from ($0.15) to $0.24. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Amarin Co. plc.

Amarin Co. plc (NASDAQ:AMRN) last announced its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.01. The company had revenue of $34.60 million for the quarter, compared to analyst estimates of $37.85 million. During the same period last year, the firm earned ($0.14) EPS. The company’s revenue was up 35.7% compared to the same quarter last year.

Several research firms recently issued reports on AMRN. Zacks Investment Research downgraded shares of Amarin Co. plc from a “buy” rating to a “hold” rating in a research report on Monday. Jefferies Group LLC set a $5.00 price target on shares of Amarin Co. plc and gave the company a “buy” rating in a research report on Thursday, April 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $6.00 price target on shares of Amarin Co. plc in a research report on Wednesday, March 22nd. Finally, HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Amarin Co. plc in a research report on Tuesday, January 24th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Amarin Co. plc currently has a consensus rating of “Buy” and a consensus target price of $5.90.

Institutional investors have recently bought and sold shares of the company. Baker BROS. Advisors LP purchased a new position in Amarin Co. plc during the third quarter worth about $65,811,000. J. Goldman & Co LP increased its position in Amarin Co. plc by 31.9% in the fourth quarter. J. Goldman & Co LP now owns 1,077,200 shares of the biopharmaceutical company’s stock worth $3,318,000 after buying an additional 260,500 shares in the last quarter. Rock Springs Capital Management LP purchased a new position in Amarin Co. plc during the third quarter worth about $15,809,000. Consonance Capital Management LP purchased a new position in Amarin Co. plc during the third quarter worth about $78,641,000. Finally, Charlemagne Capital Ltd. purchased a new position in Amarin Co. plc during the fourth quarter worth about $116,000. 39.07% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Amarin Co. plc (NASDAQ:AMRN) traded down 0.33% on Tuesday, reaching $3.02. 939,626 shares of the company traded hands. The firm has a 50-day moving average price of $3.12 and a 200 day moving average price of $3.17. The company’s market capitalization is $815.89 million. Amarin Co. plc has a one year low of $1.50 and a one year high of $3.65.

About Amarin Co. 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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