Guggenheim began coverage on shares of Amneal Pharmaceuticals (NYSE:AMRX) in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The firm issued a sell rating and a $2.50 price objective on the stock.
Several other brokerages have also recently commented on AMRX. Cantor Fitzgerald reduced their target price on Amneal Pharmaceuticals from $35.00 to $14.00 and set an overweight rating on the stock in a report on Wednesday, June 12th. Raymond James cut Amneal Pharmaceuticals from a strong-buy rating to an outperform rating and reduced their target price for the company from $13.00 to $8.50 in a report on Wednesday, July 10th. SunTrust Banks reiterated a buy rating and issued a $5.00 target price on shares of Amneal Pharmaceuticals in a report on Tuesday, August 6th. Barclays set a $5.00 target price on Amneal Pharmaceuticals and gave the company a hold rating in a report on Thursday, July 11th. Finally, BMO Capital Markets reduced their target price on Amneal Pharmaceuticals from $6.00 to $5.00 and set a market perform rating on the stock in a report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $9.00.
Shares of AMRX stock opened at $3.49 on Thursday. The business’s 50 day simple moving average is $2.92 and its 200 day simple moving average is $8.29. Amneal Pharmaceuticals has a one year low of $2.27 and a one year high of $24.35. The stock has a market capitalization of $1.04 billion, a PE ratio of 3.67, a PEG ratio of 0.43 and a beta of 1.49. The company has a debt-to-equity ratio of 3.66, a current ratio of 2.17 and a quick ratio of 1.41.
Amneal Pharmaceuticals (NYSE:AMRX) last announced its earnings results on Monday, August 5th. The company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.05). Amneal Pharmaceuticals had a negative net margin of 3.65% and a positive return on equity of 28.20%. The company had revenue of $404.60 million during the quarter, compared to the consensus estimate of $420.12 million. During the same quarter in the previous year, the company earned $0.24 earnings per share. The business’s revenue was down 12.5% on a year-over-year basis. As a group, research analysts expect that Amneal Pharmaceuticals will post 0.51 earnings per share 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. Insiders have acquired a total of 1,788,966 shares of company stock worth $5,377,057 over the last 90 days. Company insiders own 26.34% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Atria Investments LLC purchased a new stake in Amneal Pharmaceuticals in the 2nd quarter valued at $240,000. United Services Automobile Association raised its position in Amneal Pharmaceuticals by 9.7% in the 2nd quarter. United Services Automobile Association now owns 117,227 shares of the company’s stock valued at $841,000 after buying an additional 10,400 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in Amneal Pharmaceuticals in the 2nd quarter valued at $598,000. Nuveen Asset Management LLC purchased a new stake in shares of Amneal Pharmaceuticals during the 2nd quarter valued at $2,505,000. Finally, UBS Asset Management Americas Inc. increased its position in shares of Amneal Pharmaceuticals by 57.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 90,707 shares of the company’s stock valued at $650,000 after purchasing an additional 33,033 shares during the last quarter. Institutional investors own 34.77% of the company’s stock.
Amneal Pharmaceuticals Company Profile
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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