Amarin Corp ADR (NASDAQ: AMRN): Why Investors Shouldn’t Ditch AMRN Stock In 2023

In the last trading session, 1.07 million Amarin Corp ADR (NASDAQ:AMRN) shares changed hands as the company’s beta touched 2.14. With the company’s per share price at $0.79 changed hands at -$0.03 or -3.53% during last session, the market valuation stood at $322.71M. AMRN’s last price was a discount, traded about -182.28% off its 52-week high of $2.23. The share price had its 52-week low at $0.65, which suggests the last value was 17.72% up since then. When we look at Amarin Corp ADR’s average trading volume, we note the 10-day average is 1.22 million shares, with the 3-month average coming to 1.65 million.

Amarin Corp ADR (NASDAQ:AMRN) trade information

Instantly AMRN was in red as seen at the end of in last trading. With action 12.65%, the performance over the past five days has been green. The drop to weekly highs of 0.8260 on Monday, 11/20/23 subtracted -3.53% to the stock’s daily price. The company’s shares are showing year-to-date downside of -34.72%, with the 5-day performance at 12.65% in the green. However, in the 30-day time frame, Amarin Corp ADR (NASDAQ:AMRN) is 4.65% up. Looking at the short shares, we see there were 15.89 million shares sold at short interest cover period of 9.28 days.

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Amarin Corp ADR (AMRN) estimates and forecasts

Data shows that the Amarin Corp ADR share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -39.70% over the past 6 months, a 91.67% in annual growth rate that is considerably higher than the industry average of 14.90%. Year-over-year growth is forecast to reach -20.40% down from the last financial year.

Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $61.55 million. 3 analysts are of the opinion that Amarin Corp ADR’s revenue for the quarter ending Mar 2024 will be $58.23 million. The company’s revenue for the corresponding quarters a year ago was $90.25 million and $81.23 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -31.80%. The estimates for the next quarter sales put growth at -28.30%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -0.85%. The 2023 estimates are for Amarin Corp ADR earnings to increase by 35.75%, but the outlook for the next 5-year period is at 38.90% per year.

AMRN Dividends

Amarin Corp ADR is expected to release its next quarterly earnings report between February 14 and February 19.

Amarin Corp ADR (NASDAQ:AMRN)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.52% of Amarin Corp ADR shares while 29.92% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 30.07%. There are 29.92% institutions holding the Amarin Corp ADR stock share, with Kynam Capital Management, LP the top institutional holder. As of Jun 29, 2023, the company held 12.15% of the shares, roughly 12.0 million AMRN shares worth $14.28 million.

Morgan Stanley holds the second largest percentage of outstanding shares, with 11.41% or 11.28 million shares worth $13.42 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Northern Lights Fd Tr-13D Activist Fd and Mutual Fund Ser Tr-AlphaCentric LifeSci Healthcare Fund. With 3.81 million shares estimated at $4.53 million under it, the former controlled 3.85% of total outstanding shares. On the other hand, Mutual Fund Ser Tr-AlphaCentric LifeSci Healthcare Fund held about 0.59% of the shares, roughly 0.58 million shares worth around $0.7 million.

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