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Amarin Beats Analysts Estimates in the first Quarter

Added: (Fri May 03 2019)

Pressbox (Press Release) - Pharmaceutical company Amarin Corporation, is a company that is focused on the development and distribution of medical treatments that improve cardiovascular health. The company who only has one marketed drug at the moment Vascepa, is approved as an addition to many diets to reduce levels of triglyceride in hypertriglyceridemia patients. Amarin has produced a mixed variety of earnings over the last four quarters, with an average of -17.92%, which has beaten analyst’s estimations twice, and missed the bar twice also.
Currently Zacks analysts have a hold rating on the company, however that could change with the recent earnings report released just this week. Some key figures that investors are looking at with this report are the earnings, and the revenues.
Amarin’s recently published earnings came in at an adjusted loss of 5 cents per share, which was slightly slimmer than Zacks analyst estimates of a loss of 6 cents. These earnings coming pairs with revenues generated of $73.2 Million USD which was a lot higher than the expected $72.2 Million. Percentage gain wise, the company showed year on year a revenue increase of 66.7% which was largely driven by the increased Vascepa prescriptions in the United States.
Some other key stats from the earnings report which are of equal importance is that Amarin has seen their selling, general and administrative expenses rise by 65% while their research and development team offset this increase slightly with a 38% decrease. In March of this year the company began their filings for a label expansion to include their cardiovascular study data on the labels of their products.
So far Amarin have not issued any changes to their 2019 guidance and expects their revenue levels to increase by 50% more than 2018 levels, which should put them on a path of revenue generation in the region of $350 Million for the year of 2019. The share price, although positive news came from the financial report was down 6.31% at the close of trading on Wednesday.


Jessica Zhou – IEC International

Submitted by:iecinternational
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