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Amarin (NASDAQ:AMRN) Issues Quarterly Earnings Results

Amarin logo with Medical background

Key Points

  • Amarin reported a quarterly earnings per share of ($0.03), significantly beating the consensus estimate of ($0.66), with revenue reaching $72.74 million compared to expectations of $45.45 million.
  • The company's stock experienced a 4.4% increase, closing at $15.16, with its market cap at approximately $313.96 million.
  • Jones Financial Companies Lllp substantially increased its position in Amarin shares by 449,522.1%, owning 8.75% of the company post-acquisition.
  • MarketBeat previews top five stocks to own in September.

Amarin (NASDAQ:AMRN - Get Free Report) posted its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.63, Zacks reports. The firm had revenue of $72.74 million during the quarter, compared to analysts' expectations of $45.45 million. Amarin had a negative net margin of 47.22% and a negative return on equity of 21.18%.

Amarin Trading Up 4.4%

Shares of NASDAQ:AMRN traded up $0.64 during trading on Friday, hitting $15.16. 88,516 shares of the company's stock were exchanged, compared to its average volume of 81,295. Amarin has a 1-year low of $7.08 and a 1-year high of $17.49. The firm has a 50-day moving average price of $14.46 and a two-hundred day moving average price of $11.75. The firm has a market cap of $313.96 million, a P/E ratio of -4.13 and a beta of 0.84.

Wall Street Analysts Forecast Growth

AMRN has been the topic of several recent research reports. Wall Street Zen raised shares of Amarin from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th. The Goldman Sachs Group lifted their price target on shares of Amarin from $7.00 to $12.00 and gave the stock a "sell" rating in a research report on Wednesday, June 25th.

View Our Latest Stock Report on AMRN

Institutional Investors Weigh In On Amarin

An institutional investor recently raised its position in Amarin stock. Jones Financial Companies Lllp increased its position in shares of Amarin Corporation PLC (NASDAQ:AMRN - Free Report) by 449,522.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,811,977 shares of the biopharmaceutical company's stock after acquiring an additional 1,811,574 shares during the quarter. Jones Financial Companies Lllp owned about 8.75% of Amarin worth $815,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 22.25% of the company's stock.

Amarin Company Profile

(Get Free Report)

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.

See Also

Earnings History for Amarin (NASDAQ:AMRN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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