Amarin has announced plans to repurchase up to $50 million worth of shares by the end of Q2 2024, pending shareholder approval. This move comes after significant stock purchases by Sarissa and Amarin’s CEO, signaling a commitment to aligning incentives with shareholders. The company believes that their product, VASCEPA®/VAZKEPA®, is undervalued and can deliver substantial value to patients.
In a letter to shareholders, Amarin’s Chairman and CEO highlighted the company’s accomplishments in 2023, such as restructuring the management team and improving financial discipline. They expressed confidence in the company’s position and emphasized their focus on driving shareholder value in 2024 and beyond.
The share repurchase program is contingent upon shareholder and UK court approval. Amarin’s forward-looking statements indicate their efforts to expand access and reimbursement for VASCEPA/VAZKEPA globally. Investors are encouraged to review the risks associated with such investments as detailed in Amarin’s filings with the U.S. Securities and Exchange Commission.
Date: February 29, 2024
Amarin Corporation plc (AMRN) Stock Soars 11.57% on February 29, 2024: Potential for Further Growth?
On February 29, 2024, Amarin Corporation plc (AMRN) experienced a positive day in the stock market. The stock closed at $1.35, which was a $0.14 increase from the previous market close, representing an 11.57% rise in the stock price for the day. Despite a slight drop of $0.02 in after-hours trading, AMRN ended the day on a high note. The stock is currently trading in the middle of its 52-week range and is above its 200-day simple moving average, indicating relatively good performance compared to historical trends. Investors may be noting AMRN’s price momentum and considering potential for further growth. It is important for investors to conduct their own research and analysis before making investment decisions, as past performance is not a guarantee of future success. AMRN’s positive stock performance on February 29, 2024, may be a good sign for the company, but all factors should be considered before investing.
Amarin Corporation plc (AMRN) Stock Performance Declines in 2024: Revenue and Net Income Plummet
On February 29, 2024, Amarin Corporation plc (AMRN) experienced a decline in its stock performance based on its financial data. The company reported a total revenue of $368.96 million for the past year, which decreased by 36.73% compared to the previous year. The net income for Amarin Corporation was reported as -$105.74 million for the past year, indicating a significant decrease of 1468.23% compared to the previous year. The earnings per share (EPS) for Amarin Corporation were reported as -$0.26 for the past year, representing a significant decrease of 1472.92% compared to the previous year. Investors and analysts may be closely monitoring the company’s financial performance and future outlook to make informed decisions regarding their investments in Amarin Corporation.
