Albany Molecular Research Trading Up 8.5% Following Earnings Beat (AMRI)
Albany Molecular Research (NASDAQ:AMRI)’s share price was up 8.5% during trading on Tuesday following a better than expected earnings announcement, ARN reports. The stock traded as high as $20.68 and last traded at $20.38, with a volume of 316,183 shares traded. The stock had previously closed at $18.79.
The company reported $0.22 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.20 by $0.02. The company had revenue of $68.20 million for the quarter, compared to the consensus estimate of $65.64 million.
AMRI has been the subject of a number of recent research reports. Analysts at Morgan Stanley reiterated an “underperform” rating on shares of Albany Molecular Research in a research note on Monday, July 7th. They now have a $15.00 price target on the stock, up previously from $13.00. Separately, analysts at Sterne Agee reiterated an “underperform” rating on shares of Albany Molecular Research in a research note on Monday, July 7th. They now have a $15.00 price target on the stock, up previously from $13.00.
In other Albany Molecular Research news, major shareholder Stuart M. Cable sold 30,000 shares of the company’s stock on the open market in a transaction dated Friday, August 1st. The shares were sold at an average price of $18.69, for a total transaction of $560,700.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
The stock has a 50-day moving average of $20.10 and a 200-day moving average of $16.63. The company has a market cap of $633.2 million and a price-to-earnings ratio of 62.01.
Albany Molecular Research, Inc (NASDAQ:AMRI) is a contract research and manufacturing company.
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