Amarin Co. plc (NASDAQ:AMRN) – Investment analysts at Jefferies Financial Group issued their Q1 2019 EPS estimates for Amarin in a research report issued to clients and investors on Thursday, November 8th. Jefferies Financial Group analyst M. Yee anticipates that the biopharmaceutical company will earn ($0.10) per share for the quarter. Jefferies Financial Group has a “Buy” rating and a $15.00 price objective 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.
A number of other research firms also recently weighed in on AMRN. BidaskClub upgraded shares of Amarin from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. Zacks Investment Research downgraded shares of Amarin from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Cantor Fitzgerald set a $10.00 price target on shares of Amarin and gave the company a “buy” rating in a research note on Wednesday, August 1st. ValuEngine upgraded shares of Amarin from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 24th. Finally, HC Wainwright restated a “buy” rating and issued a $20.00 price target (up from $10.00) on shares of Amarin in a research note on Tuesday, September 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $27.80.
Amarin (NASDAQ:AMRN) last posted its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $55.00 million during the quarter, compared to analyst estimates of $60.63 million. During the same quarter in the previous year, the business posted ($0.04) earnings per share. The company’s revenue for the quarter was up 16.8% on a year-over-year basis.
A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in Amarin by 57.7% during the 2nd quarter. FMR LLC now owns 5,335,221 shares of the biopharmaceutical company’s stock worth $16,486,000 after purchasing an additional 1,952,118 shares during the last quarter. BlackRock Inc. raised its holdings in Amarin by 0.3% during the 3rd quarter. BlackRock Inc. now owns 3,403,454 shares of the biopharmaceutical company’s stock worth $55,374,000 after purchasing an additional 11,024 shares during the last quarter. EULAV Asset Management bought a new position in Amarin during the 3rd quarter worth approximately $15,456,000. C WorldWide Group Holding A S bought a new position in Amarin during the 3rd quarter worth approximately $11,064,000. Finally, Alps Advisors Inc. raised its holdings in Amarin by 21.9% during the 3rd quarter. Alps Advisors Inc. now owns 519,534 shares of the biopharmaceutical company’s stock worth $8,453,000 after purchasing an additional 93,448 shares during the last quarter. Hedge funds and other institutional investors own 39.44% of the company’s stock.
In related 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 filing with the SEC, which can be accessed through this link. Also, insider Steven B. Ketchum sold 17,042 shares of the firm’s 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 $353,451.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,016,149 shares of company stock worth $34,812,617. 4.08% of the stock is owned by corporate 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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