Amarin Corporation plc (ADR) (NASDAQ:AMRN) Shares Up on Positive Earnings Expectations


Amarin Corporation plc (ADR) (NASDAQ:AMRN) shares were up 9.81% on Monday and an additional 0.69% in after-hours trading to $2.93. The company has a market cap of $590.77 million at 183.10 million shares outstanding. Share prices have been trading in a 52-week range of $1.24 to $3.00 and could be poised for more gains if the earnings beat expectations.

Amarin Corporation will make its earnings conference on August 4. Analysts are expecting earnings of -$0.14, up from last year’s -$0.17 EPS. This would also represent a slight improvement over the company’s EPS of -$0.15 in the previous quarter. Note that the company was able to beat market expectations 33% of the time in the last 12 quarters.

Traders are also bullish on the stock since it has outperformed the S&P 500 index by 17.07% in the past 4 weeks. The stock has also managed to close higher on Monday even as equity indices mostly ended in the red on downbeat US ISM manufacturing data, which follows a weaker than expected Q2 GDP reading of 1.2% versus the 2.6% consensus and precedes a likely weaker NFP reading due on Friday.

Since their latest earnings release, Amarin Corporation was able to achieve significant milestones, one of which is to obtain FDA new chemical market exclusivity determination for Vascepa capsules. Apart from that, the company reported significant reductions in potentially atherogenic lipid parameters in Statin-treated patients with Type 2 Diabetes and persistently high triglycerides and presented its products in medical conferences such as the Jefferies 2016 Global Healthcare Conference and the American Diabetes Association’s 76th Scientific Session.

Amarin Corporation 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.


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