Amarin Co. plc (NASDAQ:AMRN – Free Report) – Zacks Research boosted their Q1 2024 EPS estimates for shares of Amarin in a report issued on Thursday, March 21st. Zacks Research analyst R. Department now anticipates that the biopharmaceutical company will post earnings per share of ($0.04) for the quarter, up from their previous forecast of ($0.07). The consensus estimate for Amarin’s current full-year earnings is ($0.14) per share. Zacks Research also issued estimates for Amarin’s Q2 2024 earnings at ($0.05) EPS, Q3 2024 earnings at ($0.05) EPS, Q4 2024 earnings at ($0.03) EPS, FY2024 earnings at ($0.17) EPS, Q1 2025 earnings at ($0.06) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.04) EPS, Q4 2025 earnings at ($0.01) EPS, FY2025 earnings at ($0.17) EPS and FY2026 earnings at ($0.10) EPS.
Separately, Cantor Fitzgerald reissued an “overweight” rating on shares of Amarin in a research report on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $1.08.
Amarin Stock Performance
AMRN opened at $0.84 on Monday. The company’s 50 day simple moving average is $1.09 and its 200 day simple moving average is $0.93. Amarin has a 1 year low of $0.65 and a 1 year high of $1.58. The stock has a market capitalization of $346.56 million, a PE ratio of -6.03 and a beta of 2.01.
Amarin (NASDAQ:AMRN – Get Free Report) last released its earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.04. Amarin had a negative net margin of 19.26% and a negative return on equity of 10.47%. The business had revenue of $74.71 million for the quarter, compared to analysts’ expectations of $72.46 million.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP purchased a new position in Amarin in the first quarter valued at approximately $31,000. Creative Planning raised its holdings in Amarin by 66.4% in the second quarter. Creative Planning now owns 17,285 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 6,900 shares during the period. JPMorgan Chase & Co. raised its holdings in Amarin by 76.4% in the first quarter. JPMorgan Chase & Co. now owns 26,428 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 11,443 shares during the period. Foundations Investment Advisors LLC purchased a new position in Amarin in the third quarter valued at approximately $25,000. Finally, Sei Investments Co. purchased a new stake in shares of Amarin during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.
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. It 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.
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