FY2024 Earnings Estimate for Amarin Issued By Zacks Research

Amarin Co. plc (NASDAQ:AMRN - Free Report) - Equities researchers at Zacks Research decreased their FY2024 earnings estimates for Amarin in a research report issued to clients and investors on Wednesday, January 8th. Zacks Research analyst R. Department now forecasts that the biopharmaceutical company will earn ($0.18) per share for the year, down from their previous forecast of ($0.17). The consensus estimate for Amarin's current full-year earnings is ($0.14) per share. Zacks Research also issued estimates for Amarin's Q4 2024 earnings at ($0.10) EPS, Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at ($0.07) EPS, Q3 2025 earnings at ($0.07) EPS, FY2025 earnings at ($0.33) EPS, Q1 2026 earnings at ($0.06) EPS, Q2 2026 earnings at ($0.06) EPS, Q3 2026 earnings at ($0.08) EPS and FY2026 earnings at ($0.30) EPS.

Amarin (NASDAQ:AMRN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Amarin had a negative return on equity of 7.22% and a negative net margin of 16.33%. The business had revenue of $42.30 million during the quarter, compared to the consensus estimate of $43.82 million. During the same period last year, the business posted ($0.05) earnings per share.

Separately, StockNews.com upgraded Amarin from a "sell" rating to a "hold" rating in a research note on Monday.

Amarin Stock Down 6.7 %

NASDAQ:AMRN traded down $0.04 during trading hours on Monday, reaching $0.51. The company had a trading volume of 950,436 shares, compared to its average volume of 1,359,871. Amarin has a twelve month low of $0.43 and a twelve month high of $1.37. The firm has a market cap of $211.37 million, a price-to-earnings ratio of -5.72 and a beta of 1.82. The business's 50-day simple moving average is $0.51 and its two-hundred day simple moving average is $0.60.

Hedge Funds Weigh In On Amarin

Institutional investors have recently modified their holdings of the company. Algert Global LLC bought a new stake in Amarin during the 2nd quarter valued at $34,000. China Universal Asset Management Co. Ltd. increased its position in shares of Amarin by 63.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company's stock worth $48,000 after acquiring an additional 29,992 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in shares of Amarin by 80.7% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company's stock worth $60,000 after acquiring an additional 42,700 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Amarin by 8.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company's stock worth $816,000 after acquiring an additional 104,939 shares during the last quarter. 22.25% of the stock is owned by institutional investors and hedge funds.

About Amarin

Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, European countries, Canada, Lebanon, and the United Arab Emirates. The company offers 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.