Stock analysts at Guggenheim assumed coverage on shares of Amneal Pharmaceuticals (NYSE:AMRX) in a research report issued on Thursday, BenzingaRatingsTable reports. The brokerage set a “sell” rating and a $2.50 price target on the stock. Guggenheim’s target price would indicate a potential downside of 27.75% from the company’s current price.
Other analysts also recently issued research reports about the stock. Svb Leerink raised shares of Amneal Pharmaceuticals from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $11.00 to $5.00 in a research report on Monday, July 22nd. Zacks Investment Research raised shares of Amneal Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada downgraded shares of Amneal Pharmaceuticals from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $11.00 to $6.00 in a research report on Thursday, July 11th. Cantor Fitzgerald reduced their price objective on shares of Amneal Pharmaceuticals from $35.00 to $14.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. Finally, Raymond James downgraded shares of Amneal Pharmaceuticals from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $13.00 to $8.50 in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $9.00.
NYSE:AMRX opened at $3.46 on Thursday. The company has a market capitalization of $1.04 billion, a PE ratio of 3.64, a P/E/G ratio of 0.37 and a beta of 1.49. The company has a 50 day simple moving average of $2.93 and a two-hundred day simple moving average of $8.34. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.41 and a current ratio of 2.17. Amneal Pharmaceuticals has a fifty-two week low of $2.27 and a fifty-two week high of $24.35.
Amneal Pharmaceuticals (NYSE:AMRX) last released its earnings results on Monday, August 5th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.05). The firm had revenue of $404.60 million for the quarter, compared to analyst estimates of $420.12 million. Amneal Pharmaceuticals had a negative net margin of 3.65% and a positive return on equity of 28.20%. The business’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 EPS. Research analysts predict that Amneal Pharmaceuticals will post 0.51 EPS for the current year.
In other news, Director Ted C. Nark bought 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were bought at an average cost of $2.39 per share, for a total transaction of $119,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Pradeep Bhadauria bought 30,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average price of $2.41 per share, for a total transaction of $72,300.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 1,788,966 shares of company stock worth $5,377,057. 26.34% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Swiss National Bank lifted its holdings in shares of Amneal Pharmaceuticals by 2.1% in the 2nd quarter. Swiss National Bank now owns 171,200 shares of the company’s stock worth $1,228,000 after purchasing an additional 3,600 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Amneal Pharmaceuticals by 27.3% in the 1st quarter. New York State Common Retirement Fund now owns 108,616 shares of the company’s stock worth $1,539,000 after purchasing an additional 23,316 shares in the last quarter. Atria Investments LLC bought a new position in shares of Amneal Pharmaceuticals in the 2nd quarter worth $240,000. SG Americas Securities LLC bought a new position in Amneal Pharmaceuticals during the 2nd quarter valued at $1,906,000. Finally, Marshall Wace LLP lifted its stake in Amneal Pharmaceuticals by 487.8% during the 1st quarter. Marshall Wace LLP now owns 492,275 shares of the company’s stock valued at $6,977,000 after acquiring an additional 408,533 shares in the last quarter. Institutional investors own 34.79% of the company’s stock.
About Amneal Pharmaceuticals
Amneal Pharmaceuticals, Inc, together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic and specialty pharmaceutical products for various dosage forms and therapeutic areas. It operates through two segments, Generics and Specialty. The Generics segment develops, manufactures, and commercializes complex oral solids, injectables, ophthalmics, liquids, topicals, softgels, inhalation products, and transdermals across a range of therapeutic categories.
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