In the last trading session, 1.37 million shares of the Amarin Corporation plc (NASDAQ:AMRN) were traded, and its beta was 1.78. Most recently the company’s share price was $1.30, and it changed around -$0.01 or -0.76% from the last close, which brings the market valuation of the company to $538.28M. AMRN currently trades at a discount to its 52-week high of $2.23, offering almost -71.54% off that amount. The share price’s 52-week low was $1.04, which indicates that the current value has risen by an impressive 20.0% since then. We note from Amarin Corporation plc’s average daily trading volume that its 10-day average is 2.12 million shares, with the 3-month average coming to 3.26 million.
Amarin Corporation plc stock received a consensus recommendation rating of a Hold, based on a mean score of 2.80. If we narrow it down even further, the data shows that 2 out of 6 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 2 recommended AMRN as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Amarin Corporation plc is expected to report earnings per share of -$0.03 for the current quarter.
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Amarin Corporation plc (NASDAQ:AMRN) trade information
Instantly AMRN has showed a red trend with a performance of -0.76% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 1.3750 on Tuesday, 05/23/23 increased the stock’s daily price by 5.45%. The company’s shares are currently up 7.44% year-to-date, but still up 4.00% over the last five days. On the other hand, Amarin Corporation plc (NASDAQ:AMRN) is -1.52% up in the 30-day period. We can see from the shorts that 24.07 million shares have been sold at a short interest cover period of 10.31 day(s).
The consensus price target as assigned by Wall Street analysts is $2.70, which translates to bulls needing to increase their stock price by 51.85% from its current value. Analyst projections state that AMRN is forecast to be at a low of $1.50 and a high of $5.00. In order for the stock price to hit the forecast high, the stock would need to plunge -284.62% from its current level, while the stock would need to crash -15.38% from its current level to reach the projected low.
Amarin Corporation plc (AMRN) estimates and forecasts
Amarin Corporation plc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 10.17 percent over the past six months and at a 8.33% annual growth rate that is well below the industry average of 11.20%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 83.30% in revenue this quarter, and will report a decrease of -300.00% in the next quarter. The year-over-year growth rate is expected to be -14.30%, down from the previous year.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $79.58 million in revenue for the current quarter. 5 analysts expect Amarin Corporation plc to make $76.64 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $94.44 million and $88.24 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -15.70%. Forecasts for the next quarter put sales growth at -13.10%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -3.40%. Amarin Corporation plc earnings are expected to increase by 34.60% in 2023, but the outlook is positive 38.90% per year for the next five years.
Amarin Corporation plc’s next quarterly earnings report is expected to be released on May 03.
Amarin Corporation plc (NASDAQ:AMRN)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.48% of Amarin Corporation plc shares, and 34.57% of them are in the hands of institutional investors. The stock currently has a share float of 34.74%. Amarin Corporation plc stock is held by 239 institutions, with Eversept Partners, LP being the largest institutional investor. By Mar 30, 2023, it held 14.79% of the shares, which is about 14.61 million shares worth $21.92 million.
Kynam Capital Management, LP, with 12.15% or 12.0 million shares worth $18.0 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Northern Lights Fd Tr-13D Activist Fd and Legg Mason Clearbridge Small Cap Value Fd were the top two Mutual Funds as of Dec 30, 2022. The former held 2.03 million shares worth $2.45 million, making up 2.05% of all outstanding shares. On the other hand, Legg Mason Clearbridge Small Cap Value Fd held roughly 0.53 million shares worth around $0.64 million, which represents about 0.54% of the total shares outstanding.