Piper Sandler Weighs in on Amarin Co. plc’s FY2021 Earnings (NASDAQ:AMRN)

Amarin Co. plc (NASDAQ:AMRN) – Equities researchers at Piper Sandler cut their FY2021 EPS estimates for shares of Amarin in a research note issued to investors on Monday, January 10th. Piper Sandler analyst Y. Rahimi now forecasts that the biopharmaceutical company will earn ($0.04) per share for the year, down from their prior forecast of $0.05. Piper Sandler also issued estimates for Amarin’s Q4 2021 earnings at ($0.02) EPS, Q1 2022 earnings at ($0.02) EPS, Q4 2022 earnings at $0.02 EPS and FY2022 earnings at ($0.01) EPS.

Several other research firms have also commented on AMRN. Zacks Investment Research upgraded shares of Amarin from a “hold” rating to a “strong-buy” rating and set a $4.00 price target on the stock in a research report on Wednesday. SVB Leerink reiterated a “buy” rating and issued a $12.00 price target on shares of Amarin in a research report on Sunday, September 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $8.20.

AMRN stock opened at $3.52 on Thursday. The company’s 50 day simple moving average is $3.60 and its 200-day simple moving average is $4.44. The firm has a market capitalization of $1.39 billion, a PE ratio of 85.25 and a beta of 2.13. Amarin has a 12 month low of $3.11 and a 12 month high of $9.25.

Amarin (NASDAQ:AMRN) last issued its earnings results on Wednesday, November 3rd. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.01. Amarin had a negative net margin of 0.34% and a positive return on equity of 1.89%. The company had revenue of $142.00 million during the quarter, compared to analysts’ expectations of $161.29 million. During the same period last year, the company posted ($0.02) earnings per share. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year.

In other news, Director Joseph S. Zakrzewski bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 14th. The shares were purchased at an average price of $3.27 per share, for a total transaction of $32,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.67% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. DG Capital Management LLC increased its stake in Amarin by 36.4% during the second quarter. DG Capital Management LLC now owns 4,332,483 shares of the biopharmaceutical company’s stock worth $18,976,000 after acquiring an additional 1,155,337 shares during the last quarter. Virtu Financial LLC acquired a new stake in Amarin during the second quarter worth about $549,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Amarin by 16.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 53,483 shares of the biopharmaceutical company’s stock valued at $234,000 after buying an additional 7,509 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Amarin in the second quarter valued at about $433,000. Finally, Cresset Asset Management LLC acquired a new stake in shares of Amarin in the second quarter valued at about $457,000. Institutional investors own 30.24% of the company’s stock.

Amarin Company Profile

Amarin Corp. Plc is a biopharmaceutical company, which focuses on the commercialization and development of therapeutics for cardiovascular health. Its product development program leverages its experience in lipid science and the potential therapeutic benefits of polyunsaturated fatty acids. It has developed and markets Vascepa capsules through wholesale.

Further Reading: Price to Earnings Ratio (PE)

Earnings History and Estimates for Amarin (NASDAQ:AMRN)

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