FY2017 Earnings Forecast for Amarin Corporation PLC Issued By Cantor Fitzgerald (AMRN)
Amarin Corporation PLC (NASDAQ:AMRN) – Stock analysts at Cantor Fitzgerald increased their FY2017 earnings per share estimates for shares of Amarin Corporation PLC in a report released on Tuesday. Cantor Fitzgerald analyst L. Chen now anticipates that the biopharmaceutical company will earn ($0.20) per share for the year, up from their previous forecast of ($0.23). Cantor Fitzgerald has a “Overweight” rating and a $10.00 price objective on the stock. Cantor Fitzgerald also issued estimates for Amarin Corporation PLC’s FY2018 earnings at ($0.03) EPS.
Amarin Corporation PLC (NASDAQ:AMRN) last posted its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.01. The company had revenue of $44.95 million during the quarter, compared to analyst estimates of $40.35 million. During the same period in the previous year, the company earned ($0.07) EPS. The company’s quarterly revenue was up 37.0% compared to the same quarter last year. TRADEMARK VIOLATION NOTICE: This news story was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international trademark & copyright laws. The correct version of this news story can be accessed at https://www.watchlistnews.com/fy2017-earnings-forecast-for-amarin-corporation-plc-issued-by-cantor-fitzgerald-amrn/1467695.html.
AMRN has been the subject of several other research reports. Jefferies Group LLC restated a “buy” rating and issued a $5.00 price target on shares of Amarin Corporation PLC in a report on Monday, June 12th. Zacks Investment Research cut Amarin Corporation PLC from a “buy” rating to a “hold” rating in a report on Monday. HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Amarin Corporation PLC in a report on Wednesday, June 28th. Finally, BidaskClub upgraded Amarin Corporation PLC from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $7.35.
Amarin Corporation PLC (NASDAQ AMRN) opened at 3.34 on Thursday. Amarin Corporation PLC has a 52-week low of $2.56 and a 52-week high of $4.47. The firm has a 50-day moving average of $3.87 and a 200-day moving average of $3.31. The firm’s market cap is $904.45 million.
In other news, General Counsel Joseph T. Kennedy sold 307,911 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $4.00, for a total transaction of $1,231,644.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.72% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of AMRN. Wells Fargo & Company MN boosted its stake in shares of Amarin Corporation PLC by 4.8% in the first quarter. Wells Fargo & Company MN now owns 32,801 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 1,500 shares during the last quarter. Perkins Capital Management Inc. purchased a new stake in shares of Amarin Corporation PLC during the first quarter worth about $110,000. JPMorgan Chase & Co. boosted its stake in shares of Amarin Corporation PLC by 27.1% in the first quarter. JPMorgan Chase & Co. now owns 35,590 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 7,580 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Amarin Corporation PLC by 2.1% in the first quarter. Private Advisor Group LLC now owns 50,170 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 1,032 shares during the last quarter. Finally, Airain ltd boosted its stake in shares of Amarin Corporation PLC by 382.9% in the second quarter. Airain ltd now owns 87,122 shares of the biopharmaceutical company’s stock worth $351,000 after buying an additional 69,081 shares during the last quarter. Institutional investors and hedge funds own 37.57% of the company’s stock.
Amarin Corporation PLC 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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