Amarin Corporation plc (NASDAQ:AMRN) is a pharmaceutical company focused on developing innovating treatments for improving cardiovascular health. The company’s sole marketed drug, Vascepa, is approved as an adjunct to diet to reduce triglyceride levels in severe hypertriglyceridemia patients.
Amarin’s earnings track record has been mixed so far. Over the four trailing quarters, the company posted an average negative earnings surprise of 17.92%, beating estimates in two quarters, while missing the same twice.
Currently, Amarin’s has a Zacks Rank #3 (Hold) but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Beat: Amarin reported an adjusted loss of 5 cents (excluding stock based compensation) per share which was narrower than the Zacks Consensus Estimate of loss of 6 cents.
Revenues Beat: Amarin posted revenues of $73.2 million, beating the Zacks consensus estimate of $72.2 million. Moreover, revenue was up 66.7% year over year driven by increased Vascepa prescriptions in the United States
Key Stats: Selling, general and administrative expenses were up 65% at $71.6 million while research & development expenses decreased 38.4% to $7.2 million. In March Amarin filed label expansion application to include cardiovascular outcomes study data on the label of Vascepa.
2019 Guidance: Amarin maintained its 2019 guidance and expects revenue levels to grow at least 50% over 2018 levels and reach approximately $350 million in 2019.
Share Price Impact: Shares were down almost 2.1% in pre-market trading.
Amarin Corporation PLC Price and EPS Surprise
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Amarin Corporation PLC (AMRN): Free Stock Analysis Report
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