Can Amarin Corporation plc (NASDAQ:AMRN) Run Higher on Earnings Estimates?

Amarin Corporation plc (NASDAQ:AMRN) plunged -3.60% during previous trade, a total of 5.12M shares exchanged hands compared with its average trading volume of 10.24M shares whereas its relative volume is 0.50. The stock has a market capitalization of $5.45B along with 330.18B outstanding shares. Stock’s intraday price range hit the peak level of $17.65 and touched the lowest level of $16.80.

Amarin’s stock moved 2.71% lower Monday, to close the day at $16.87. The stock recorded a trading volume of 9,183,080 shares, which was below its three months average volume of 10,516,786 shares. In the last year, Amarin’s shares have traded in a range of 2.35 – 23.34. The share price has gained 617.87% from its 52 week low. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $15.50 is above its 200-day moving average of $12.05. Shares of Amarin have gained roughly 24.14 percent in the past month and are up 23.95 percent year-to-date.

While taking an overview of recommendation trends, the stock currently has an average brokerage recommendation of 1.00. ABR value is precisely based on brokerage recommendations, where out of 4 brokerage recommendations 4 rate Amarin Corporation plc (NASDAQ:AMRN) stock a Strong Buy, 0 rate the stocks of the company a Buy, 0 rate Hold, 0 rate Sell and 0 recommend a Strong Sell. Most recently on 11/2/2018 the stock of Amarin Corporation plc (NASDAQ:AMRN) downgraded by Citigroup from Buy to Neutral. However previously on 10/17/2018 it was maintained by Citigroup from Buy to Buy. A research note issued on 9/25/2018 the stock was maintained by Citigroup from Buy to Buy.

Amarin Corporation plc (NASDAQ:AMRN) performance over the past one year advanced 349.87% whereas its year to date (YTD) performance indicated a bullish trend of 23.95%. During the last six months the stock rose 513.45%. Quarterly performance of the company shows declining momentum of -18.74% while its last one month trend is positive with 29.67%. Stock’s weekly performance expressed down trend of -2.71%.

The company’s price sits 3.73% above from its 50-day moving average of $15.56 and 78.32% far from the stock’s 200-day moving average which is $12.49. Amarin Corporation plc (NASDAQ:AMRN)’s shares are currently trading -27.71% away from the 52-week high price of $23.34 and +617.87% far from the 52-week low price of $2.35.

According to consensus agreement of 2 analysts Amarin Corporation plc (NASDAQ:AMRN) will report earnings per share of $-0.08 in their quarterly report and it is expected to announce the company’s results on 11/1/2018 Before Market Open. For the current quarter the company has high EPS estimates of $-0.05 in contradiction of low EPS estimates of $-0.08. However a year ago for the same quarter the company has reported $-0.08 EPS. Current year EPS projections for Amarin Corporation plc are set at $-0.25 according to the sentiments of 4 analysts, while its lowest earnings estimates are $-0.36 and highest earnings estimates are $-0.33.

According to 3 analysts, Amarin Corporation’s revenue estimates for the current quarter are $73.87M meanwhile the company has high revenue estimates of $74.7M in contradiction of low revenue estimates of $72.7M. For the current year the company’s revenue estimates are $225.73M compared to low analyst estimates of $224.6 and high estimates of $226.5M according to the projection of 3 analysts.