Zacks Investment Research Lowers Amryt Pharma (NASDAQ:AMYT) to Sell

Zacks Investment Research downgraded shares of Amryt Pharma (NASDAQ:AMYT) from a hold rating to a sell rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Amryt Pharma plc is a biopharmaceutical company. It develops and commercializes therapeutics to treat rare diseases. Amryt Pharma plc is based in London, the United Kingdom. “

Several other equities analysts also recently issued reports on AMYT. Jonestrading initiated coverage on shares of Amryt Pharma in a report on Monday, October 4th. They set a buy rating and a $45.00 price objective on the stock. HC Wainwright restated a buy rating and set a $28.00 price objective on shares of Amryt Pharma in a report on Wednesday, November 24th. SVB Leerink cut their price objective on shares of Amryt Pharma from $23.00 to $19.00 and set an outperform rating on the stock in a report on Tuesday, November 23rd. Finally, Maxim Group restated a buy rating and set a $26.00 price objective on shares of Amryt Pharma in a report on Friday, November 5th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Buy and a consensus target price of $29.50.

Shares of Amryt Pharma stock opened at $10.55 on Wednesday. The company has a market capitalization of $674.47 million, a PE ratio of -21.98 and a beta of -0.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.14 and a current ratio of 1.80. The company has a 50-day simple moving average of $10.32 and a two-hundred day simple moving average of $11.06. Amryt Pharma has a one year low of $9.17 and a one year high of $15.44.

Amryt Pharma (NASDAQ:AMYT) last announced its earnings results on Wednesday, November 3rd. The company reported ($0.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.14. Amryt Pharma had a negative net margin of 41.64% and a negative return on equity of 73.58%. The business had revenue of $56.52 million during the quarter, compared to the consensus estimate of $52.34 million. On average, equities analysts predict that Amryt Pharma will post -0.47 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of AMYT. Rubric Capital Management LP purchased a new stake in Amryt Pharma in the third quarter valued at approximately $39,231,000. Stonepine Capital Management LLC boosted its position in Amryt Pharma by 107.4% in the third quarter. Stonepine Capital Management LLC now owns 5,801,748 shares of the company’s stock valued at $69,882,000 after buying an additional 3,004,004 shares during the last quarter. MPM Asset Management LLC purchased a new stake in Amryt Pharma in the third quarter valued at approximately $32,160,000. Rock Springs Capital Management LP purchased a new stake in Amryt Pharma in the third quarter valued at approximately $15,601,000. Finally, Highbridge Capital Management LLC boosted its position in Amryt Pharma by 142.7% in the third quarter. Highbridge Capital Management LLC now owns 1,634,366 shares of the company’s stock valued at $19,759,000 after buying an additional 960,965 shares during the last quarter. Hedge funds and other institutional investors own 49.50% of the company’s stock.

About Amryt Pharma

Amryt Pharma plc, a commercial-stage biopharmaceutical company, develops and commercializes novel therapeutics to treat patients suffering from serious and life-threatening rare diseases. The company offers Lomitapide for the treatment of homozygous familial hypercholesterolemia; and Metreleptin for the treatment of generalized and partial lipodystrophy.

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