Amarin Corporation PLC (AMRN - Free Report) 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 16.25%, missing estimates in two quarters, beating the same once and meeting once.
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 6 cents (excluding stock based compensation) per American depositary share which was narrower than the Zacks Consensus Estimate of loss of 9 cents.
Revenues Miss: Amarin posted revenues of $55.3 million, missing the consensus estimate of $61.5 million. However, it was up 24.7% year over year.
Key Stats: Adjusted selling, general and administrative expenses were up 46.8% at $44.4 million while adjusted research & development expenses increased 28.1% to $$13 million. Normalized prescriptions for Vascepa increased approximately 20% year-over-year. Effective Nov 2, Amarin will have no debt obligation with a fixed maturity date.
Share Price Impact: Shares were up a mere 0.1% in pre-market trading.
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