Amarin (AMRN - Free Report) closed the most recent trading day at $17.34, moving -1.51% from the previous trading session. This move was narrower than the S&P 500's daily loss of 3.29%. Meanwhile, the Dow lost 3.15%, and the Nasdaq, a tech-heavy index, lost 4.08%.
Prior to today's trading, shares of the biopharmaceutical company had gained 451.72% over the past month. This has outpaced the Medical sector's loss of 1.22% and the S&P 500's gain of 0.44% in that time.
Investors will be hoping for strength from AMRN as it approaches its next earnings release, which is expected to be November 7, 2018. On that day, AMRN is projected to report earnings of -$0.09 per share, which would represent a year-over-year decline of 125%. Meanwhile, our latest consensus estimate is calling for revenue of $61.50 million, up 29.86% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.42 per share and revenue of $228.93 million, which would represent changes of -68% and +26.41%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for AMRN. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. AMRN is currently a Zacks Rank #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 79, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.