Amarin Co. plc (NASDAQ:AMRN – Get Rating) – Analysts at Cantor Fitzgerald issued their FY2023 earnings estimates for Amarin in a research report issued on Monday, June 6th. Cantor Fitzgerald analyst L. Chen expects that the biopharmaceutical company will post earnings per share of ($0.15) for the year. Cantor Fitzgerald currently has a “Overweight” rating on the stock.
AMRN has been the topic of several other reports. Northland Securities cut Amarin from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 4th. HC Wainwright cut Amarin from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $10.00 to $3.00 in a research note on Thursday, May 5th. SVB Leerink cut Amarin from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $10.00 to $3.00 in a research note on Thursday, May 5th. The Goldman Sachs Group reduced their price objective on Amarin from $1.75 to $1.50 and set a “sell” rating on the stock in a research note on Tuesday, May 24th. Finally, JPMorgan Chase & Co. cut Amarin from a “neutral” rating to an “underweight” rating in a research note on Friday, May 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.30.
Amarin (NASDAQ:AMRN – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The biopharmaceutical company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Amarin had a negative net margin of 4.15% and a negative return on equity of 1.31%. The business had revenue of $94.60 million during the quarter, compared to analysts’ expectations of $128.21 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. Amarin’s revenue was down 33.5% on a year-over-year basis.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AMRN. Invesco Ltd. bought a new position in shares of Amarin during the second quarter valued at approximately $87,000. BlackRock Inc. grew its stake in shares of Amarin by 18.7% during the third quarter. BlackRock Inc. now owns 197,767 shares of the biopharmaceutical company’s stock valued at $1,008,000 after buying an additional 31,112 shares during the last quarter. Atom Investors LP bought a new position in shares of Amarin during the third quarter valued at approximately $226,000. Morgan Stanley grew its stake in shares of Amarin by 0.7% during the third quarter. Morgan Stanley now owns 6,336,406 shares of the biopharmaceutical company’s stock valued at $32,315,000 after buying an additional 41,332 shares during the last quarter. Finally, Jacobi Capital Management LLC grew its stake in shares of Amarin by 977.8% during the third quarter. Jacobi Capital Management LLC now owns 4,850 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 4,400 shares during the last quarter. 35.42% of the stock is currently owned by hedge funds and other institutional investors.
Amarin Company Profile (Get Rating)
Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, Germany, Canada, Lebanon, and the United Arab Emirates. Its lead product is 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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