In the latest trading session, Amarin (AMRN) closed at $17.90, marking a -0.11% move from the previous day. This move lagged the S&P 500's daily gain of 0.17%. Meanwhile, the Dow 0%, and the Nasdaq, a tech-heavy index, added 0.11%.
Prior to today's trading, shares of the biopharmaceutical company had lost 9.27% over the past month. This has lagged the Medical sector's gain of 1.18% and the S&P 500's gain of 2.78% in that time.
Wall Street will be looking for positivity from AMRN as it approaches its next earnings report date. The company is expected to report EPS of $0.01, up 111.11% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $134.45 million, up 73.87% from the year-ago period.
Any recent changes to analyst estimates for AMRN should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. AMRN is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, AMRN is holding a Forward P/E ratio of 298.67. For comparison, its industry has an average Forward P/E of 29.59, which means AMRN is trading at a premium to the group.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 70, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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