Amarin Corporation plc (AMRN): What the Financials Tell Us

Amarin Corporation plc (NASDAQ:AMRN) saw an upside of 1.39% to close Monday at $5.09 after adding $0.07 on the day. The 5-day average trading volume is 2,124,360 shares of the company’s common stock. It has gained $5.17 in the past week. An average of 2,458,065 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,591,294.

AMRN’s 1-month performance is -3.96% or -$0.21 on its low of $4.80 reached on 10/05/21. The company’s shares have touched a 52-week low of $3.84 and high of $9.25, with the stock’s rally to the 52-week high happening on 02/03/21. YTD, AMRN has achieved 4.09% or $0.20. However, the current price is down -44.97%% from the 52-week high price.

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Insider Transactions

On Aug 12, 61 days have gone by since the last insider trading activity for Amarin Corporation plc (AMRN). Kalb Michael Wayne (SVP and CFO) most recently sold 120,000 shares at $5.25 per share on Aug 12. This transaction cost the insider $630,240. Chief Scientific Officer, Ketchum Steven B, sold 217,728 shares at a price of $8.06 on Feb 01. Then, on Jan 27, Chief Scientific Officer Ketchum Steven B sold 421,629 shares at a price of $8.01 per share. This transaction amounted to $3,378,131.

Valuation Metrics

The company’s PE ratio for the last five years has touched a high of 993.20 and a low of 670.07. AMRN stock has a beta of 2.23. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.19 while the price-to-book (PB) in the most recent quarter is 3.12.

Amarin Corporation plc’s quick ratio for the period ended June 29 was 2.00, with the current ratio over the same period at 2.70 meaning that AMRN stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.00, while the total debt to equity was 0.00. In terms of profitability, the gross margin trailing 12 months is 79.30%. The trailing 12-month EBITDA margin is -2.87% while for the period ending June 29; Amarin Corporation plc’s operating margin was 1.20%. The firm’s gross profit as reported stood at $482.62 million against revenue of $614.06 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Amarin Corporation plc’s cash and short-term investments amounted to $181.91 million against total debt of $8.88 million. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 12.41% to $154.49 million, while revenue of $142.17 million was 7.97% off the previous quarter. Analysts expected AMRN to announce -$0.03 per share in earnings in its latest quarter, but it posted $0.02, representing a 166.70% surprise. EBITDA for the quarter stood at more than $9.56 million. AMRN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 399.67 million, with total debt at $8.88 million. Shareholders hold equity totaling $395.3 million

Technical Picture

Let’s look briefly at Amarin Corporation plc (AMRN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 11 October was 48.67% to suggest the stock is trending Neutral, with historical volatility in this time period at 23.07%.

The stock’s 5-day moving average is $4.97, reflecting a +2.00% or $0.10 change from its current price. AMRN is currently trading -3.42% above its 20-day SMA, +13.11% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +22.95% and -0.78% respectively.

Stochastic %K and %D was 30.07% and 21.68% and the average true range (ATR) pointed at 0.17. The RSI (14) points at 47.85%, while the 14-day stochastic is at 39.86% with the period’s ATR at 0.18. The stock’s 9-day MACD Oscillator is pointing at 0.00 and -0.12 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Amarin Corporation plc (NASDAQ: AMRN), Goldman downgraded it to a Sell rating. They previously had a Neutral rating on the stock. Analysts offering their rating for AMRN stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate AMRN as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 6 have offered a “buy” rating.

What is AMRN’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $5.00 and a high of $19.00, with their median price target at $10.00. Looking at these predictions, the average price target given by analysts is for Amarin Corporation plc (AMRN) stock is $10.33.


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