Intrinsic value of Amarin ADR - AMRN

Previous Close

$3.36

  Intrinsic Value

$0.87

stock screener

  Rating & Target

str. sell

-74%

  Value-price divergence*

0%

Previous close

$3.36

 
Intrinsic value

$0.87

 
Up/down potential

-74%

 
Rating

str. sell

 
Value-price divergence*

0%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of AMRN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  58.54
  36.40
  33.26
  30.43
  27.89
  25.60
  23.54
  21.69
  20.02
  18.52
  17.17
  15.95
  14.85
  13.87
  12.98
  12.18
  11.46
  10.82
  10.24
  9.71
  9.24
  8.82
  8.44
  8.09
  7.78
  7.50
  7.25
  7.03
  6.83
  6.64
  6.48
Revenue, $m
  130
  177
  236
  308
  394
  495
  612
  744
  893
  1,059
  1,240
  1,438
  1,652
  1,881
  2,125
  2,384
  2,657
  2,945
  3,246
  3,562
  3,891
  4,234
  4,591
  4,963
  5,349
  5,750
  6,167
  6,601
  7,051
  7,520
  8,007
Variable operating expenses, $m
 
  78
  103
  135
  173
  217
  268
  326
  391
  464
  543
  630
  724
  824
  931
  1,044
  1,164
  1,290
  1,422
  1,560
  1,704
  1,854
  2,011
  2,174
  2,343
  2,519
  2,701
  2,891
  3,088
  3,294
  3,507
Fixed operating expenses, $m
 
  151
  154
  158
  162
  166
  170
  175
  179
  184
  188
  193
  198
  203
  208
  213
  218
  224
  229
  235
  241
  247
  253
  259
  266
  273
  279
  286
  293
  301
  308
Total operating expenses, $m
  196
  229
  257
  293
  335
  383
  438
  501
  570
  648
  731
  823
  922
  1,027
  1,139
  1,257
  1,382
  1,514
  1,651
  1,795
  1,945
  2,101
  2,264
  2,433
  2,609
  2,792
  2,980
  3,177
  3,381
  3,595
  3,815
Operating income, $m
  -66
  -51
  -22
  15
  59
  112
  173
  244
  323
  411
  509
  615
  731
  854
  987
  1,127
  1,275
  1,431
  1,595
  1,767
  1,946
  2,133
  2,327
  2,530
  2,740
  2,959
  3,187
  3,423
  3,669
  3,925
  4,192
EBITDA, $m
  -65
  -50
  -20
  17
  62
  116
  178
  249
  330
  420
  518
  626
  743
  869
  1,003
  1,145
  1,296
  1,454
  1,620
  1,794
  1,976
  2,165
  2,362
  2,568
  2,781
  3,003
  3,234
  3,474
  3,723
  3,983
  4,253
Interest expense (income), $m
  17
  8
  2
  5
  8
  12
  16
  22
  27
  34
  41
  50
  58
  68
  78
  89
  100
  112
  125
  139
  153
  167
  183
  198
  215
  232
  250
  268
  288
  308
  328
Earnings before tax, $m
  -76
  -59
  -24
  10
  51
  100
  157
  222
  295
  377
  467
  566
  672
  787
  909
  1,038
  1,175
  1,319
  1,470
  1,628
  1,793
  1,965
  2,145
  2,331
  2,525
  2,727
  2,937
  3,155
  3,382
  3,618
  3,863
Tax expense, $m
  10
  0
  0
  3
  14
  27
  42
  60
  80
  102
  126
  153
  182
  212
  245
  280
  317
  356
  397
  440
  484
  531
  579
  629
  682
  736
  793
  852
  913
  977
  1,043
Net income, $m
  -86
  -59
  -24
  7
  37
  73
  115
  162
  216
  275
  341
  413
  491
  574
  663
  758
  858
  963
  1,073
  1,188
  1,309
  1,435
  1,566
  1,702
  1,843
  1,991
  2,144
  2,303
  2,469
  2,641
  2,820

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  98
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  167
  94
  125
  164
  209
  263
  325
  395
  474
  562
  658
  763
  877
  998
  1,128
  1,265
  1,410
  1,563
  1,723
  1,890
  2,065
  2,247
  2,437
  2,634
  2,839
  3,052
  3,274
  3,504
  3,743
  3,991
  4,250
Adjusted assets (=assets-cash), $m
  69
  94
  125
  164
  209
  263
  325
  395
  474
  562
  658
  763
  877
  998
  1,128
  1,265
  1,410
  1,563
  1,723
  1,890
  2,065
  2,247
  2,437
  2,634
  2,839
  3,052
  3,274
  3,504
  3,743
  3,991
  4,250
Revenue / Adjusted assets
  1.884
  1.883
  1.888
  1.878
  1.885
  1.882
  1.883
  1.884
  1.884
  1.884
  1.884
  1.885
  1.884
  1.885
  1.884
  1.885
  1.884
  1.884
  1.884
  1.885
  1.884
  1.884
  1.884
  1.884
  1.884
  1.884
  1.884
  1.884
  1.884
  1.884
  1.884
Average production assets, $m
  9
  12
  16
  21
  27
  34
  42
  51
  62
  73
  86
  99
  114
  130
  147
  164
  183
  203
  224
  246
  268
  292
  317
  342
  369
  397
  426
  455
  487
  519
  552
Working capital, $m
  70
  4
  5
  7
  9
  11
  14
  17
  21
  24
  29
  33
  38
  43
  49
  55
  61
  68
  75
  82
  89
  97
  106
  114
  123
  132
  142
  152
  162
  173
  184
Total debt, $m
  116
  25
  53
  87
  128
  177
  232
  296
  367
  446
  533
  627
  729
  839
  955
  1,079
  1,209
  1,347
  1,491
  1,641
  1,799
  1,963
  2,133
  2,311
  2,495
  2,687
  2,886
  3,093
  3,308
  3,532
  3,765
Total liabilities, $m
  176
  85
  113
  147
  188
  237
  292
  356
  427
  506
  593
  687
  789
  899
  1,015
  1,139
  1,269
  1,407
  1,551
  1,701
  1,859
  2,023
  2,193
  2,371
  2,555
  2,747
  2,946
  3,153
  3,368
  3,592
  3,825
Total equity, $m
  -9
  9
  13
  16
  21
  26
  32
  40
  47
  56
  66
  76
  88
  100
  113
  127
  141
  156
  172
  189
  207
  225
  244
  263
  284
  305
  327
  350
  374
  399
  425
Total liabilities and equity, $m
  167
  94
  126
  163
  209
  263
  324
  396
  474
  562
  659
  763
  877
  999
  1,128
  1,266
  1,410
  1,563
  1,723
  1,890
  2,066
  2,248
  2,437
  2,634
  2,839
  3,052
  3,273
  3,503
  3,742
  3,991
  4,250
Debt-to-equity ratio
  -12.889
  2.630
  4.220
  5.330
  6.130
  6.720
  7.150
  7.480
  7.730
  7.930
  8.090
  8.210
  8.320
  8.400
  8.470
  8.530
  8.570
  8.620
  8.650
  8.680
  8.710
  8.730
  8.750
  8.770
  8.790
  8.800
  8.820
  8.830
  8.840
  8.850
  8.860
Adjusted equity ratio
  -1.551
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -86
  -59
  -24
  7
  37
  73
  115
  162
  216
  275
  341
  413
  491
  574
  663
  758
  858
  963
  1,073
  1,188
  1,309
  1,435
  1,566
  1,702
  1,843
  1,991
  2,144
  2,303
  2,469
  2,641
  2,820
Depreciation, amort., depletion, $m
  1
  1
  2
  2
  3
  4
  5
  6
  7
  8
  10
  11
  13
  14
  16
  18
  20
  23
  25
  27
  30
  32
  35
  38
  41
  44
  47
  51
  54
  58
  61
Funds from operations, $m
  -80
  -58
  -22
  10
  40
  77
  119
  168
  223
  284
  351
  424
  503
  589
  680
  776
  878
  985
  1,098
  1,216
  1,339
  1,467
  1,601
  1,740
  1,884
  2,035
  2,191
  2,354
  2,523
  2,698
  2,881
Change in working capital, $m
  -8
  1
  1
  2
  2
  2
  3
  3
  3
  4
  4
  5
  5
  5
  6
  6
  6
  7
  7
  7
  8
  8
  8
  9
  9
  9
  10
  10
  10
  11
  11
Cash from operations, $m
  -72
  -59
  -23
  8
  38
  74
  117
  165
  219
  280
  347
  420
  499
  583
  674
  770
  872
  979
  1,091
  1,208
  1,331
  1,459
  1,593
  1,731
  1,876
  2,026
  2,182
  2,344
  2,512
  2,688
  2,870
Maintenance CAPEX, $m
  0
  -1
  -1
  -2
  -2
  -3
  -4
  -5
  -6
  -7
  -8
  -10
  -11
  -13
  -14
  -16
  -18
  -20
  -23
  -25
  -27
  -30
  -32
  -35
  -38
  -41
  -44
  -47
  -51
  -54
  -58
New CAPEX, $m
  0
  -3
  -4
  -5
  -6
  -7
  -8
  -9
  -10
  -11
  -13
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -31
  -32
  -34
Cash from investing activities, $m
  0
  -4
  -5
  -7
  -8
  -10
  -12
  -14
  -16
  -18
  -21
  -24
  -26
  -29
  -31
  -34
  -37
  -40
  -44
  -47
  -50
  -54
  -57
  -61
  -65
  -69
  -73
  -77
  -82
  -86
  -92
Free cash flow, $m
  -72
  -63
  -29
  1
  30
  64
  105
  151
  203
  261
  326
  396
  473
  555
  643
  736
  835
  939
  1,048
  1,162
  1,281
  1,406
  1,535
  1,670
  1,811
  1,957
  2,109
  2,267
  2,431
  2,601
  2,779
Issuance/(repayment) of debt, $m
  -1
  -60
  28
  34
  41
  48
  56
  63
  71
  79
  87
  95
  102
  109
  117
  124
  131
  137
  144
  151
  157
  164
  171
  177
  185
  192
  199
  207
  215
  224
  233
Issuance/(repurchase) of shares, $m
  65
  144
  27
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  63
  84
  55
  34
  41
  48
  56
  63
  71
  79
  87
  95
  102
  109
  117
  124
  131
  137
  144
  151
  157
  164
  171
  177
  185
  192
  199
  207
  215
  224
  233
Total cash flow (excl. dividends), $m
  -9
  21
  26
  36
  71
  113
  160
  214
  274
  340
  413
  491
  575
  664
  759
  860
  965
  1,076
  1,192
  1,312
  1,438
  1,570
  1,706
  1,848
  1,995
  2,149
  2,308
  2,474
  2,646
  2,825
  3,012
Retained Cash Flow (-), $m
  -119
  -144
  -27
  -4
  -5
  -5
  -6
  -7
  -8
  -9
  -10
  -11
  -11
  -12
  -13
  -14
  -15
  -15
  -16
  -17
  -17
  -18
  -19
  -20
  -21
  -21
  -22
  -23
  -24
  -25
  -26
Prev. year cash balance distribution, $m
 
  67
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -56
  -1
  32
  67
  107
  154
  207
  266
  332
  403
  480
  564
  652
  746
  846
  951
  1,061
  1,176
  1,296
  1,421
  1,551
  1,687
  1,828
  1,975
  2,127
  2,286
  2,451
  2,622
  2,800
  2,986
Discount rate, %
 
  7.00
  7.35
  7.72
  8.10
  8.51
  8.93
  9.38
  9.85
  10.34
  10.86
  11.40
  11.97
  12.57
  13.20
  13.86
  14.55
  15.28
  16.04
  16.85
  17.69
  18.57
  19.50
  20.48
  21.50
  22.58
  23.70
  24.89
  26.13
  27.44
  28.81
PV of cash for distribution, $m
 
  -53
  -1
  25
  49
  71
  92
  111
  126
  137
  144
  146
  145
  140
  132
  121
  108
  95
  81
  67
  55
  43
  33
  25
  18
  13
  9
  6
  4
  2
  2
Current shareholders' claim on cash, %
  100
  50.0
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9
  12.9

Amarin Corporation plc is a biopharmaceutical company with operations in lipid science focused on the commercialization and development of therapeutics for cardiovascular health. The Company operates through the development and commercialization of Vascepa segment. The Company's lead product, Vascepa (icosapent ethyl) capsule, is approved by the United States Food and Drug Administration (FDA) for use as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia. This indication for Vascepa, known as the MARINE indication, is based primarily on the results from the MARINE study of Vascepa in this approved patient population. The Company sells Vascepa principally to wholesalers, as well as selected regional wholesalers and specialty pharmacy providers, or collectively, its distributors, which in turn resell Vascepa to retail pharmacies for resale to patients and healthcare providers.

FINANCIAL RATIOS  of  Amarin ADR (AMRN)

Valuation Ratios
P/E Ratio -10.5
Price to Sales 7
Price to Book -100.6
Price to Tangible Book
Price to Cash Flow -12.6
Price to Free Cash Flow -12.6
Growth Rates
Sales Growth Rate 58.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio 3
Current Ratio 0
LT Debt to Equity -944.4%
Total Debt to Equity -1288.9%
Interest Coverage -3
Management Effectiveness
Return On Assets -39.3%
Ret/ On Assets - 3 Yr. Avg. -40.3%
Return On Total Capital -74.8%
Ret/ On T. Cap. - 3 Yr. Avg. -63.4%
Return On Equity 125.5%
Return On Equity - 3 Yr. Avg. 107.9%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 73.8%
Gross Margin - 3 Yr. Avg. 67.6%
EBITDA Margin -44.6%
EBITDA Margin - 3 Yr. Avg. -86.8%
Operating Margin -50.8%
Oper. Margin - 3 Yr. Avg. -92.2%
Pre-Tax Margin -58.5%
Pre-Tax Margin - 3 Yr. Avg. -103.9%
Net Profit Margin -66.2%
Net Profit Margin - 3 Yr. Avg. -103.4%
Effective Tax Rate -13.2%
Eff/ Tax Rate - 3 Yr. Avg. -1.8%
Payout Ratio 0%

AMRN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AMRN stock intrinsic value calculation we used $130 million for the last fiscal year's total revenue generated by Amarin ADR. The default revenue input number comes from 2016 income statement of Amarin ADR. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our AMRN stock valuation model: a) initial revenue growth rate of 36.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 7%, whose default value for AMRN is calculated based on our internal credit rating of Amarin ADR, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Amarin ADR.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of AMRN stock the variable cost ratio is equal to 43.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $147 million in the base year in the intrinsic value calculation for AMRN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 9.3% for Amarin ADR.

Corporate tax rate of 27% is the nominal tax rate for Amarin ADR. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the AMRN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for AMRN are equal to 6.9%.

Life of production assets of 9 years is the average useful life of capital assets used in Amarin ADR operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for AMRN is equal to 2.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $-9 million for Amarin ADR - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 268.212 million for Amarin ADR is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Amarin ADR at the current share price and the inputted number of shares is $0.9 billion.

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COMPANY NEWS

▶ ETFs with exposure to Amarin Corp. Plc : October 10, 2017   [Oct-10-17 10:58AM  Capital Cube]
▶ Amarin to Present at Cantor Global Healthcare Conference   [Sep-20-17 04:30PM  GlobeNewswire]
▶ ETFs with exposure to Amarin Corp. Plc : August 31, 2017   [Aug-31-17 05:12PM  Capital Cube]
▶ Amarin reports 2Q loss   [Aug-02-17 10:55PM  Associated Press]
▶ ETFs with exposure to Amarin Corp. Plc : June 27, 2017   [Jun-27-17 02:51PM  Capital Cube]
▶ Opening Bell, June 13, 2017   [Jun-13-17 09:29AM  CNBC Videos]
▶ Today's Bell Ringer, June 13, 2017   [09:15AM  CNBC Videos]
▶ ETFs with exposure to Amarin Corp. Plc : June 2, 2017   [Jun-02-17 01:50PM  Capital Cube]
▶ 3 Healthcare Stocks for Savvy Investors   [May-24-17 03:46PM  Motley Fool]
▶ ETFs with exposure to Amarin Corp. Plc : May 22, 2017   [May-22-17 01:20PM  Capital Cube]
▶ ETFs with exposure to Amarin Corp. Plc : May 11, 2017   [May-11-17 04:06PM  Capital Cube]
▶ Amarin reports 1Q loss   [05:06AM  Associated Press]
▶ ETFs with exposure to Amarin Corp. Plc : April 26, 2017   [Apr-26-17 03:04PM  Capital Cube]
▶ ETFs with exposure to Amarin Corp. Plc : April 7, 2017   [Apr-07-17 03:46PM  Capital Cube]
▶ 3 Stocks That Could Make You Rich   [Mar-28-17 12:24PM  Motley Fool]
▶ 3 Stocks That Could Make You Rich   [12:24PM  at Motley Fool]
▶ 4 Biotech Stocks With Jaw-Dropping Growth Potential   [Mar-21-17 08:09AM  Motley Fool]
▶ Amarin reports 4Q loss   [06:21AM  Associated Press]
▶ 1 Reason Amarin's Stock Skyrocketed in 2016   [Jan-10-17 09:39AM  at Motley Fool]
▶ Is CytomX Therapeutics Inc (CTMX) A Good Stock To Buy?   [Dec-13-16 02:05PM  at Insider Monkey]
▶ Is Loxo Oncology Inc (LOXO) Worthy of Your Portfolio?   [Dec-11-16 08:46AM  at Insider Monkey]
▶ Is Modine Manufacturing Co. (MOD) A Good Stock To Buy?   [Dec-10-16 10:07AM  at Insider Monkey]
▶ Do Hedge Funds Love Amarin Corporation plc (ADR) (AMRN)?   [Dec-08-16 07:14AM  at Insider Monkey]
▶ Penny Stocks: 2 to Buy, 2 to Avoid   [Nov-20-16 07:26AM  at Motley Fool]
▶ Amarin's Stock Buckled in October. Is It Now a Bargain?   [Nov-09-16 08:52AM  at Motley Fool]
Financial statements of AMRN
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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