Shares of Amneal Pharmaceuticals Inc (NYSE:AMRX) shot up 18.2% during mid-day trading on Monday . The company traded as high as $2.89 and last traded at $2.86, 2,328,653 shares changed hands during trading. An increase of 68% from the average session volume of 1,386,763 shares. The stock had previously closed at $2.42.
A number of brokerages recently issued reports on AMRX. ValuEngine raised Amneal Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 7th. Svb Leerink raised Amneal Pharmaceuticals from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $11.00 to $5.00 in a research note on Monday, July 22nd. Royal Bank of Canada lowered Amneal Pharmaceuticals from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $11.00 to $6.00 in a research note on Thursday, July 11th. Zacks Investment Research lowered Amneal Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. Finally, Raymond James lowered Amneal Pharmaceuticals from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $13.00 to $8.50 in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Amneal Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $12.13.
The company has a current ratio of 2.17, a quick ratio of 1.41 and a debt-to-equity ratio of 3.66. The stock has a 50-day simple moving average of $3.93 and a two-hundred day simple moving average of $9.54. The firm has a market capitalization of $717.82 million, a P/E ratio of 3.01, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41.
Amneal Pharmaceuticals (NYSE:AMRX) last issued its earnings results on Monday, August 5th. The company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.05). The firm had revenue of $404.60 million for the quarter, compared to the consensus estimate of $420.12 million. Amneal Pharmaceuticals had a negative net margin of 3.65% and a positive return on equity of 28.20%. The company’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same period last year, the firm earned $0.24 earnings per share. As a group, research analysts expect that Amneal Pharmaceuticals Inc will post 0.51 EPS for the current year.
In related news, VP Andrew S. Boyer purchased 66,666 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average cost of $2.89 per share, for a total transaction of $192,664.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder International Ltd Fosun purchased 1,642,300 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $3.04 per share, for a total transaction of $4,992,592.00. The disclosure for this purchase can be found here. Insiders own 26.34% of the company’s stock.
Several large investors have recently made changes to their positions in AMRX. Point72 Asset Management L.P. purchased a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at $23,772,000. Norges Bank purchased a new position in shares of Amneal Pharmaceuticals in the 4th quarter valued at $18,243,000. BlackRock Inc. increased its holdings in shares of Amneal Pharmaceuticals by 9.4% in the 2nd quarter. BlackRock Inc. now owns 6,394,923 shares of the company’s stock valued at $45,852,000 after acquiring an additional 549,217 shares during the period. Marshall Wace LLP increased its holdings in shares of Amneal Pharmaceuticals by 487.8% in 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 during the period. Finally, Phocas Financial Corp. purchased a new position in shares of Amneal Pharmaceuticals in the 1st quarter valued at $5,331,000. Institutional investors and hedge funds own 35.06% of the company’s stock.
Amneal Pharmaceuticals Company Profile (NYSE:AMRX)
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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