FY2024 Earnings Forecast for Amarin Issued By Zacks Research

Amarin Co. plc (NASDAQ:AMRN) – Zacks Research dropped their FY2024 earnings per share estimates for shares of Amarin in a note issued to 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 estimate 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) last announced its earnings results 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 net margin of 16.33% and a negative return on equity of 7.22%. The firm had revenue of $42.30 million during the quarter, compared to analysts’ expectations of $43.82 million. During the same period in the prior year, the company posted ($0.05) EPS.

Separately, StockNews.com upgraded Amarin from a “sell” rating to a “hold” rating in a report on Monday.

Amarin Price Performance

Amarin stock opened at $0.51 on Monday. The firm has a market capitalization of $211.37 million, a P/E ratio of -5.72 and a beta of 1.82. Amarin has a 1-year low of $0.43 and a 1-year high of $1.37. The company’s 50-day moving average is $0.51 and its 200 day moving average is $0.59.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. grew its stake in Amarin by 63.9% in the 3rd 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 grew its stake in Amarin by 80.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 42,700 shares in the last quarter. Algert Global LLC purchased a new position in Amarin during the 2nd quarter worth $34,000. Finally, BNP Paribas Financial Markets raised its position in Amarin by 8.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,301,468 shares of the biopharmaceutical company’s stock valued at $816,000 after purchasing an additional 104,939 shares in the last quarter. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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.