|Bid||17.71 x 4000|
|Ask||17.84 x 2200|
|Day's Range||16.87 - 18.16|
|52 Week Range||2.35 - 23.34|
|Beta (3Y Monthly)||0.83|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 4, 2017 - May 8, 2017|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||34.00|
NEW YORK, NY / ACCESSWIRE / January 23, 2019 / U.S. markets declined on Tuesday, breaking a streak of four consecutive days in the green, on growing trade concerns. Stocks were pressured lower on reports ...
BEDMINSTER, N.J., and DUBLIN, Ireland, Jan. 23, 2019 -- Amarin Corporation plc (NASDAQ:AMRN), a pharmaceutical company focused on improving cardiovascular health, announced.
No funding for the FDA means delays in drug reviews and approvals. And that could translate to bad news for these three biotechs.
Why Ligand Pharmaceuticals Tanked 25%Ligand PharmaceuticalsToday, US pharmaceutical firm Ligand Pharmaceuticals (LGND) fell 25% from yesterday’s closing price to a low of $98.86 for the day. At the same time, other pharmaceutical companies Amarin
Why Amarin Is Soaring in First Half of JanuaryStock price hikeOn January 11, Amarin (AMRN) closed at $18.00, which is 1.91% lower than its previous closing price. However, on January 10, 2019, the company closed at $18.35, almost 22% higher than its
Shares of cardiovascular health sciences company Amarin (NASDAQ:AMRN) surged 22% on Thursday. That continues an amazing ride for the maker of Vascepa, an Omega-3 fatty acids treatment to fight very high triglycerides. Amarin stock has soared from $3 in September to as high as $23 following its decisive REDUCE-IT study results. These results showed that Amarin's formulation of Omega-3 oils performs superiorly to other generic options. After years of criticism, Amarin demonstrated that it isn't "just another fish oil pill" as the bears had always retorted. Since the trial results, Amarin stock has remained highly volatile. Yes, it's clear Amarin has a viable commercial product on their hands now, but how many doctors will start prescribing it? InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 A-Rated Stocks the Smart Money Is Piling Into Can Amarin make it as a standalone operation or does it need a larger commercial backer? All these questions came to a head on Thursday when rumors broke that Pfizer (NYSE:PFE) or perhaps AstraZeneca (NYSE:AZN) was going to acquire Amarin outright. Amarin stock soared. ### Pfizer Buying Amarin? Probably Not Biotech journalist and Twitter heavyweight Adam Feuerstein weighed in on the Pfizer rumors, tweeting: "Help me with the logic here: $AMRN CEO John Thero just spent 4 days in [San Francisco] meeting face to face with investors while ALSO negotiating a $PFE takeout? People, please…" It's not uncommon for biotech management teams to pull out of conferences when they are about to be acquired. Particularly if Amarin already knew that Pfizer or someone else would bid for the company, why bother with in-person investor relations? There'd be more important business to attend to. Also, it's worth noting that Pfizer's comments at that same biotech conference didn't indicate that a deal is coming soon. Pfizer's CEO Albert Bourla noted that the company greatly stepped up its share buyback in 2018. It did so, Bourla said, in order to be able to boost R&D spending without hitting earnings. Adding to that Bourla commented rather directly that: "In the years before we had an issue with growth, so we were looking to buy revenues now or soon because this is what was lacking. Right now we are not in this situation. Right now we are in a situation that our R&D is very productive and I feel that mostly R&D type of deals is what we need to enhance even further our pipeline, given that we have higher confidence in our capabilities to do it, given that now we have very good focus on R&D." Pfizer's CEO stated it clearly: they don't need to acquire more drugs to obtain growth. The R&D pipeline is stuffed. Pfizer is unlikely to want to drop $8 billion or more to acquire Amarin at this time. ### Amarin: Short-Term Struggles A lot of Amarin stock bulls expected shares to fly up toward $30 in the immediate wake of the shockingly good REDUCE-IT trial data. Analysts have pegged future peak annual sales estimates for Vascepa at $2 billion to $4 billion sometime in the 2020s. Given Amarin's healthy patent position on the drug, this has the makings of being a blockbuster therapeutic. There's still the hitch that the company needs to convince the FDA to expand its marketing label for the drug later this year. However, given the strong data, this shouldn't be too much of an issue. For now, however, Amarin is still experiencing relatively soft sales. Amarin released guidance suggested that it will sell just $350 million of Vascepa in 2019. That was well short of the market's expectations. So far, since the REDUCE-IT data came out, Amarin has seen a decent bump in its weekly prescriptions. They're up from 11,000 pre-data release to 15,000 now. That's solid progress. Still, it's clear that without much more marketing and/or a wider label approval from the FDA, it will take awhile for Amarin to gain serious sales traction. ### Amarin Stock Takeaway That said, Amarin finds itself in a decent position nonetheless. It had $249 million in cash as of the latest report, suggesting that it has time to ramp up its sales operations as a separate company. Amarin lost $98 million on $205 million in revenues last year, suggesting it isn't especially close to profitability. Analysts forecast a much smaller, but still negative, net income figure for this year as well. Regardless, with that cash position, Amarin isn't desperate to find a suitor and can wait for an attractive offer. For now, I see AMRN as a solid trading stock. When there are short-term rips, such as the 22% pop on the Pfizer rumors, it is a good time to take profits. When the stock dips, say on weaker than expected earnings or prescription fills data, you can buy back in at a better price. In the short-term, I consider it highly unlikely that Pfizer or someone else like AztraZeneca is about to purchase Amarin. The actions from both companies' management teams suggest that a deal is not imminent. As such, it makes sense to ring the register on AMRN stock following the recent move from $13.50 at the start of the year to $18 now. If you like the Amarin story, you will get another chance to buy back in at a cheaper price as there are no immediate catalysts to drive Amarin stock higher. At the time of this writing, Ian Bezek held no positions in any of the aforementioned securities. You can reach him on Twitter at @irbezek. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Key Emerging-Market Stocks to Buy for Contrarian Investors * 7 Stocks at Risk of the Global Smartphone Slowdown * 7 Pharmaceutical Stocks That Just Raised Prices This Year Compare Brokers The post Sell Amarin Stock on the Recent Takeover Rumors Rally appeared first on InvestorPlace.
Two new deals to start the year and positive trial presentations at the J.P. Morgan Health Care conference have breathed new life into some of last year's biggest stock losers.
Amarin (AMRN) shares rally on rumors of its potential; acquisition by large pharmaceutical company, Pfizer. Speculations are rife about rising M&A activity in the pharma space.
Pharmaceutical company Amarin Corporation (AMRN) impressed investors by yielding an amazing 239.4% return in 2018, and its 2019 has started with a bang as well. Amarin stock has surged ~34.8% month-to-date as of its closing price on January 10. In 2018, the S&P 500 Index (SPY) and the NASDAQ Composite Index (QQQ) fell 6.2% and 3.9%, respectively.
Amarin stock bounded to a month-high Thursday on a report that Dow Jones component Pfizer could be interested in acquiring it. Deals in the biopharma space have kicked up over the last month.
Why Amarin Is Up 19% Today ## Amarin Amarin, an American biopharmaceutical company, seems to have started 2019 on a strong note. The company’s stock had surged by about 10.4% month-to-date as of its Wednesday closing. On Wednesday alone, the stock rose by about 8.1%, and today more investors seem to be jumping to take advantage of the stock’s rally. Today at 12:08 PM EST, Amarin was trading with 19.1% day gains at $17.90. Let’s take a look at what could be fuelling its recent stock price rally. ## Key positive factors On January 4, Amarin released its preliminary results for 2018. The company said that it expects its 2018 revenue to be between $224 million and $228 million, reflecting about a 24% to 26% YoY rise. This was higher than Wall Street analysts’ estimates of $220.6 million. AMRN gave an estimated range of $72 million to $76 million for its fourth quarter revenue as compared to analysts’ estimate of $68.7 million. In addition, Amarin also gave solid 2019 guidance saying that it expects over 50% growth in its revenues during the year. The company, however, warned investors that “Forecasting Vascepa revenues at this early stage is difficult” and noted that “history of other therapies for chronic conditions suggests that growth occurs over many years.” On Wednesday, the company participated in the 37th Annual J.P. Morgan Healthcare Conference in San Francisco. In this conference, Amarin’s president and CEO, John F. Thero, showcased optimism about the future growth potential of Vascepa. He said, “Think of this as somewhat analogous today to where statins were 25 years ago, and statins grew to over $30bn in revenues before going generic.” These positive comments about Vascepa could be one of the reasons why its stock surged over 19% today. In 2018, AMRN yielded solid 239.4% positive returns, while the S&P 500 Index (SPY) and the NASDAQ Composite Index (QQQ) fell by 6.2% and 3.9%, respectively.
HENDERSON, NV / ACCESSWIRE / January 10, 2019 / Biotech has started 2019 off with a bang. Below are a few that you should be paying attention to. One that looks poised for a big year, Delcath Systems, ...
Is Amarin an Attractive Bet in January? (Continued from Prior Part) ## Vascepa adoption trends Amarin (AMRN) expects Vascepa to witness robust demand trends in fiscal 2019 driven by demonstrated efficacy of the drug coupled with the company’s increasing focus on creating awareness for the drug in the healthcare community. According to the Centre for Evidence-Based Medicine (or CEBM), “The Number Needed to Treat (NNT) is the number of patients you need to treat to prevent one additional bad outcome (death, stroke, etc.).” According to Amarin’s investor presentation, a low NNT of 21 and an affordable price will likely drive managed care coverage for Vascepa in future years. The NNT of Vascepa compares favorably with that of other cardiovascular drugs such as Pfizer’s (PFE) Lipitor and Amgen’s (AMGN) Repatha, which is 45 and 67, respectively. ## Expense projections Wall Street analysts expect Amarin to report selling, general, and administrative (or SG&A) expenses of $213.58 million in fiscal 2018, a YoY rise of 17.54%. The company is expected to report SG&A expenses of $276.68 million in fiscal 2019, a YoY rise of 29.55%. The rise is mainly attributable to the rapid expansion of the company’s Salesforce by 400 people for fiscal 2019. Wall Street analysts have forecasted Amarin’s fiscal 2020 SG&A expenses to be $315.80 million, a YoY rise of 14.14%. Analysts expect Amarin to post research and development (or R&D) expenses of $55.48 million in fiscal 2018, a YoY rise of 17.64%. The company is also expected to report R&D expenses of $43.15 million in fiscal 2019, a YoY drop of 22.22%. Amarin’s fiscal 2020 R&D expenses are expected to be $32.03 million, a YoY drop of 25.78%. Analysts have projected Amarin’s SG&A and R&D expenses to be close to $68.35 million and $11.87 million in the fourth quarter of 2018, a YoY change of 46.64% and -0.60%, respectively. Browse this series on Market Realist: * Part 1 - What Are Analysts Recommending for Amarin in January? * Part 2 - Amarin Expects Robust Revenue Growth Going Forward * Part 3 - Amarin Is Expected to Become Profitable in Fiscal 2020
Is Amarin an Attractive Bet in January? (Continued from Prior Part) ## Label expansion in fiscal 2019 In a press release issued on January 4, Amarin (AMRN) announced that it will be submitting a supplemental new drug application (or sNDA) to the FDA in fiscal 2019, seeking inclusion of cardioprotective benefits as demonstrated in the REDUCE-IT trial in Vascepa’s label. According to Amarin’s investor presentation, Vascepa is currently approved by the FDA to treat patients with triglyceride levels in excess of 500mg/dL. Results from the REDUCE-IT trial demonstrated Vascepa’s efficacy in reducing the cardiovascular risk for patients independent of their triglyceride levels. According to the company’s investor presentation, Vascepa demonstrated 25% relative risk reduction (or RRR) in major adverse cardiovascular events (or MACE) and 20% RRR in cardiovascular death when administered to patients on top of statin therapy. Vascepa also demonstrated a 28% RRR drop in strokes and 31% RRR drop in heart attack on top of statin therapy. The company also plans to leverage data from the REDUCE-IT trial to secure regulatory approvals in ex-US markets. ## Wall Street estimates Wall Street analysts expect Amarin to report a non-GAAP loss per share of $0.37 in fiscal 2018, a YoY deterioration of 46.60%. The company is also expected to report a loss per share of $0.10 in fiscal 2019, a YoY improvement of 73.42%. Wall Street analysts have forecasted Amarin’s fiscal 2020 non-GAAP EPS to be $0.27, a YoY improvement of 376.80%. Analysts have projected Amarin’s loss per share to be close to $0.08 in the fourth quarter of 2018, a YoY deterioration of 1.25%. In the next article, we’ll discuss the cost structure of Amarin in greater detail. Continue to Next Part Browse this series on Market Realist: * Part 1 - What Are Analysts Recommending for Amarin in January? * Part 2 - Amarin Expects Robust Revenue Growth Going Forward * Part 4 - Amarin Expects Expenses to Rise in the Future
Is Amarin an Attractive Bet in January? (Continued from Prior Part) ## Revenue guidance In a press release issued on January 4, Amarin (AMRN) projected net total revenues in the range of $224 million to $228 million for fiscal 2018, which is a YoY rise of 24% to 26%, or $43 million to $47 million. The company has also forecasted net total revenues of $72 million to $76 million for the fourth quarter of 2018. According to the press release, the majority of the revenue rise in fiscal 2018 was thanks to increased demand for Vascepa in the US market, while less than $1.0 million in revenues have been earned from ex-US markets. The company says inventory levels of Vascepa with wholesalers are in the normal industry range at the end of fiscal 2018. According to the press release, Amarin expects its net total revenues to be around $350 million for fiscal 2019, a YoY rise of over 50%. The company plans to leverage the robust results from the cardiovascular outcomes study, REDUCE-IT, to further increase adoption of Vascepa in fiscal 2019. The company, however, doesn’t expect dramatic changes in managed care coverage for Vascepa in 2019 as compared to 2018. ## Wall Street estimates Wall Street analysts expect Amarin to report revenues of $220.60 million in fiscal 2018, a YoY rise of 21.81%. The company is also expected to report revenues of $370.03 million in fiscal 2019, a YoY rise of 67.74%. Wall Street analysts have forecasted Amarin’s fiscal 2020 revenues to be $573.23 million, a YoY rise of 54.92%. Wall Street analysts have projected Amarin’s revenues to be close to $68.68 million in the fourth quarter of 2018, a YoY rise of 27.49%. In the next article, we’ll discuss the earnings growth prospects of Amarin in greater detail. Continue to Next Part Browse this series on Market Realist: * Part 1 - What Are Analysts Recommending for Amarin in January? * Part 3 - Amarin Is Expected to Become Profitable in Fiscal 2020 * Part 4 - Amarin Expects Expenses to Rise in the Future
On January 4, Amarin issued a press release announcing preliminary results for fiscal 2018 and guidance for fiscal 2019. After this announcement, Amarin rose 4.68% from $12.61 on January 3 to $13.20 on January 4. Based on its closing price on January 7, the company reported returns of 6.27% in the last week, -16.99% in the last month, and -30.66% in the last quarter.
Amarin (AMRN) reports preliminary results for 2018 and issues guidance for 2019. While the results exceeded estimates, outlook missed the same.