Amneal Pharmaceuticals (NYSE:AMRX) Now Covered by StockNews.com

Posted by on Mar 19th, 2023

StockNews.com initiated coverage on shares of Amneal Pharmaceuticals (NYSE:AMRX – Get Rating) in a report released on Friday. The firm set a “hold” rating on the stock.

Several other research firms have also issued reports on AMRX. BMO Capital Markets reduced their target price on Amneal Pharmaceuticals from $5.00 to $4.00 and set a “market perform” rating for the company in a report on Friday, March 3rd. The Goldman Sachs Group reduced their price objective on Amneal Pharmaceuticals from $3.50 to $3.00 and set a “buy” rating for the company in a research note on Friday, March 3rd. Finally, Barclays lowered their target price on Amneal Pharmaceuticals from $7.00 to $4.00 and set an “overweight” rating on the stock in a research note on Friday, March 10th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3.67.

Amneal Pharmaceuticals Trading Up 5.9 %

NYSE AMRX opened at $1.43 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.17 and a debt-to-equity ratio of 14.30. The business has a fifty day simple moving average of $2.10 and a 200 day simple moving average of $2.22. Amneal Pharmaceuticals has a 12 month low of $1.31 and a 12 month high of $4.60. The firm has a market capitalization of $434.17 million, a P/E ratio of -1.66, a PEG ratio of 0.12 and a beta of 1.37.

Amneal Pharmaceuticals (NYSE:AMRX – Get Rating) last announced its earnings results on Thursday, March 2nd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. Amneal Pharmaceuticals had a negative net margin of 5.88% and a positive return on equity of 76.11%. The company had revenue of $609.80 million during the quarter, compared to the consensus estimate of $579.93 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, analysts predict that Amneal Pharmaceuticals will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. purchased a new stake in shares of Amneal Pharmaceuticals during the 4th quarter valued at approximately $30,000. Bank of Montreal Can bought a new stake in Amneal Pharmaceuticals during the 4th quarter valued at $31,000. Engineers Gate Manager LP purchased a new stake in shares of Amneal Pharmaceuticals during the fourth quarter worth $34,000. Price T Rowe Associates Inc. MD bought a new position in shares of Amneal Pharmaceuticals in the third quarter worth $35,000. Finally, Ergoteles LLC purchased a new position in shares of Amneal Pharmaceuticals in the third quarter valued at $36,000. 32.79% of the stock is owned by hedge funds and other institutional investors.

Amneal Pharmaceuticals Company Profile

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Amneal Pharmaceuticals, Inc is a pharmaceutical company, which engages in the development, manufacture, market and distribution of generic pharmaceutical products. It operates through the Generic, Specialty and AvKARE Segments. The Generics segment develops, manufactures and commercializes complex oral solids, injectables, ophthalmics, liquids, topicals, softgels, inhalation products and transdermals.

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