SVB Leerink Comments on Amarin Co. plc’s Q2 2022 Earnings (NASDAQ:AMRN)

Posted by on Jun 9th, 2022

Amarin Co. plc (NASDAQ:AMRN – Get Rating) – SVB Leerink lifted their Q2 2022 earnings per share (EPS) estimates for shares of Amarin in a report released on Monday, June 6th. SVB Leerink analyst R. Ruiz now anticipates that the biopharmaceutical company will post earnings of ($0.05) per share for the quarter, up from their prior forecast of ($0.08). SVB Leerink has a “Market Perform” rating and a $3.00 price target on the stock. SVB Leerink also issued estimates for Amarin’s Q3 2022 earnings at ($0.05) EPS, Q4 2022 earnings at ($0.02) EPS, FY2022 earnings at ($0.13) EPS, FY2023 earnings at ($0.28) EPS, FY2024 earnings at ($0.18) EPS and FY2025 earnings at $0.10 EPS.

Amarin (NASDAQ:AMRN – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $94.60 million during the quarter, compared to the consensus estimate of $128.21 million. During the same quarter last year, the firm posted $0.03 earnings per share. Amarin’s revenue was down 33.5% compared to the same quarter last year.

Other analysts have also issued research reports about the company. HC Wainwright lowered Amarin from a “buy” rating to a “neutral” rating and cut their price objective for the company from $10.00 to $3.00 in a report on Thursday, May 5th. The Goldman Sachs Group cut their target price on shares of Amarin from $1.75 to $1.50 and set a “sell” rating on the stock in a research note on Tuesday, May 24th. Cantor Fitzgerald reissued an “overweight” rating on shares of Amarin in a research note on Wednesday, March 2nd. Northland Securities cut shares of Amarin from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 4th. Finally, StockNews.com upgraded shares of Amarin from a “sell” rating to a “hold” rating in a report on Saturday, June 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Amarin currently has an average rating of “Hold” and an average target price of $4.30.

Shares of AMRN stock opened at $1.89 on Thursday. Amarin has a 1 year low of $1.11 and a 1 year high of $5.97. The stock has a fifty day moving average of $2.29 and a two-hundred day moving average of $2.99. The firm has a market capitalization of $750.35 million, a PE ratio of -37.79 and a beta of 2.12.

A number of institutional investors and hedge funds have recently bought and sold shares of AMRN. M Holdings Securities Inc. acquired a new stake in shares of Amarin during the first quarter worth $192,000. Quantbot Technologies LP bought a new position in shares of Amarin in the 1st quarter valued at about $31,000. Dynamic Technology Lab Private Ltd grew its position in shares of Amarin by 164.2% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 73,769 shares of the biopharmaceutical company’s stock valued at $243,000 after acquiring an additional 45,849 shares during the period. Fairmount Funds Management LLC boosted its holdings in shares of Amarin by 65.4% during the 1st quarter. Fairmount Funds Management LLC now owns 4,133,237 shares of the biopharmaceutical company’s stock worth $13,598,000 after buying an additional 1,635,000 shares during the period. Finally, 13D Management LLC bought a new stake in shares of Amarin during the 1st quarter worth about $6,659,000. Institutional investors own 35.42% of the company’s stock.

About Amarin (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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