Amarin Corporation Plc (ADR) (NASDAQ:AMRN) shares were up 10.88% to $2.65 on Friday as traders are pricing in expectations for the company’s earnings report due this week. The company has a market cap of $537.99 at 183.10 million shares outstanding. Share prices have been trading in a 52-week range of $1.24 to $2.75 so price is near the resistance at this point.
Amarin Corporation Plc is a biopharmaceutical company with operations in lipid science focused on the commercialization and development of therapeutics for cardiovascular health. Its lead product, Vascepa, is a capsule approved by the United States Food and Drug Administration for use as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia. This product is sold in the United States.
Investors await Amarin Corporation Plc to report earnings on August 4. They expect EPS of -$0.14, up 17.65% or $0.03 from last year’s-$0.17 per share. The company reported -$0.15 earnings per share in the previous quarter and has topped analysts’ estimates 33% of the time in its last twelve releases.
In its previous earnings report, Amarin Corporation Plc reported $25.3 million in net product revenue from Vascepa salescompared to $15.6 million in Q1 2015, an increase of approximately 63%. Further growth is expected for Q2 since the company has achieved a number of milestones since then.
Our net product revenue exceeded our internal revenue expectations for the quarter and our market share continued to expand approaching 20% of the current prescription omega-3 category,” remarked CEO John Thero on the Q1 results.
Since then, Amarin Corporation Plc has announced FDA new chemical market exclusivity determination for Vascepa capsules and reported significant reductions in potentially atherogenic lipid parameters in Statin-treated patients with Type 2 Diabetes and persistently high triglycerides. The company has also participated in a number of medical conferences, including the Jefferies 2016 Global Healthcare Conference, American Diabetes Association’s 76th Scientific Sessions, and Cantor Fitzgerald’s 2nd Annual Healthcare Conference.
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