FY2024 Earnings Forecast for Amarin Issued By Zacks Research

Amarin Co. plc (NASDAQ:AMRN) – Stock analysts at Zacks Research decreased their FY2024 EPS estimates for Amarin in a research report issued to clients and investors on Wednesday, January 8th. Zacks Research analyst R. Department now expects that the biopharmaceutical company will post earnings of ($0.18) per share for the year, down from their prior forecast of ($0.17). The consensus estimate for Amarin’s current full-year earnings is ($0.14) per share. Zacks Research also issued estimates for Amarin’s Q4 2024 earnings at ($0.10) EPS, Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at ($0.07) EPS, Q3 2025 earnings at ($0.07) EPS, FY2025 earnings at ($0.33) EPS, Q1 2026 earnings at ($0.06) EPS, Q2 2026 earnings at ($0.06) EPS, Q3 2026 earnings at ($0.08) EPS and FY2026 earnings at ($0.30) EPS.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. The company had revenue of $42.30 million for the quarter, compared to analysts’ expectations of $43.82 million. During the same quarter last year, the company earned ($0.05) earnings per share.

Separately, StockNews.com raised shares of Amarin from a “sell” rating to a “hold” rating in a research report on Monday.

Amarin Stock Performance

AMRN stock opened at $0.51 on Monday. Amarin has a one year low of $0.43 and a one year high of $1.37. The firm has a market cap of $211.37 million, a price-to-earnings ratio of -5.72 and a beta of 1.82. The firm has a 50-day simple moving average of $0.51 and a two-hundred day simple moving average of $0.59.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMRN. Algert Global LLC acquired a new stake in Amarin in the second quarter worth about $34,000. China Universal Asset Management Co. Ltd. raised its position in shares of Amarin by 63.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 29,992 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Amarin by 8.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock valued at $816,000 after purchasing an additional 104,939 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its stake in Amarin by 80.7% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 42,700 shares in the last quarter. 22.25% of the stock is currently owned by hedge funds and other institutional investors.

Amarin Company Profile

Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, European countries, Canada, Lebanon, and the United Arab Emirates. The company offers VASCEPA, a prescription-only omega-3 fatty acid product, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.