FY2020 Earnings Forecast for Amarin Co. plc Issued By Jefferies Group (NASDAQ:AMRN)

Amarin Co. plc (NASDAQ:AMRN) – Jefferies Group cut their FY2020 earnings per share estimates for shares of Amarin in a report issued on Wednesday, Zacks Investment Research reports. Jefferies Group analyst M. Andrews now anticipates that the biopharmaceutical company will earn $0.07 per share for the year, down from their prior forecast of $0.08. Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for Amarin’s FY2021 earnings at $0.19 EPS.

Amarin (NASDAQ:AMRN) last issued its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $47.10 million for the quarter, compared to analysts’ expectations of $45.85 million. During the same period in the prior year, the company earned ($0.08) EPS. The firm’s quarterly revenue was up 45.4% on a year-over-year basis.

Other research analysts have also recently issued research reports about the company. ValuEngine raised Amarin from a “sell” rating to a “hold” rating in a research report on Saturday, November 4th. Zacks Investment Research lowered Amarin from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. BidaskClub upgraded Amarin from a “hold” rating to a “buy” rating in a research note on Friday, December 29th. Cantor Fitzgerald set a $10.00 price objective on Amarin and gave the company a “buy” rating in a research note on Thursday, January 4th. Finally, HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of Amarin in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $7.75.

Amarin (AMRN) opened at $4.25 on Thursday. Amarin has a 1 year low of $2.81 and a 1 year high of $4.47. The company has a debt-to-equity ratio of -1.48, a quick ratio of 1.32 and a current ratio of 1.63. The company has a market capitalization of $1,151.24, a price-to-earnings ratio of -15.74 and a beta of 0.62.

In other Amarin news, insider Steven B. Ketchum sold 64,683 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $4.40, for a total value of $284,605.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Steven B. Ketchum sold 128,257 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $4.25, for a total value of $545,092.25. The disclosure for this sale can be found here. Insiders own 3.72% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Alkeon Capital Management LLC bought a new position in Amarin in the 3rd quarter worth about $7,875,000. University of Notre Dame DU Lac bought a new position in Amarin in the 3rd quarter worth about $2,814,000. GSA Capital Partners LLP increased its stake in Amarin by 135.4% in the 2nd quarter. GSA Capital Partners LLP now owns 342,800 shares of the biopharmaceutical company’s stock worth $1,381,000 after acquiring an additional 197,200 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Amarin by 681.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 278,134 shares of the biopharmaceutical company’s stock worth $1,121,000 after acquiring an additional 242,544 shares during the last quarter. Finally, State Street Corp increased its stake in Amarin by 1.3% in the 2nd quarter. State Street Corp now owns 201,995 shares of the biopharmaceutical company’s stock worth $814,000 after acquiring an additional 2,640 shares during the last quarter. Institutional investors and hedge funds own 40.12% of the company’s stock.

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Amarin Company Profile

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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Earnings History and Estimates for Amarin (NASDAQ:AMRN)

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