Amneal Pharmaceuticals (NASDAQ:AMRX) Updates FY 2024 Earnings Guidance

Amneal Pharmaceuticals (NASDAQ:AMRX) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.570-0.630 for the period, compared to the consensus EPS estimate of 0.610. The company issued revenue guidance of $2.7 billion-$2.8 billion, compared to the consensus revenue estimate of $2.8 billion.

Amneal Pharmaceuticals Stock Performance

Shares of AMRX stock opened at $7.85 on Wednesday. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of -11.54 and a beta of 1.10. Amneal Pharmaceuticals has a 52-week low of $5.01 and a 52-week high of $9.48. The firm’s 50-day moving average is $8.20 and its 200-day moving average is $8.08.

Analysts Set New Price Targets

Several research firms recently issued reports on AMRX. Piper Sandler boosted their price target on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. StockNews.com cut Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Finally, Truist Financial raised their price target on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Amneal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

Insider Activity

In other news, Director Gautam Patel sold 62,590 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $8.01, for a total value of $501,345.90. Following the transaction, the director now directly owns 1,968,886 shares of the company’s stock, valued at $15,770,776.86. The trade was a 3.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jason B. Daly sold 43,657 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $8.61, for a total value of $375,886.77. Following the sale, the senior vice president now directly owns 13,665 shares of the company’s stock, valued at $117,655.65. This represents a 76.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 123,657 shares of company stock valued at $1,016,687. 26.56% of the stock is currently owned by insiders.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals, Inc, together with its subsidiaries, develops, manufactures, markets, and distributes generics, injectables, biosimilars, and specialty branded pharmaceutical products worldwide. The company operates through three segments: Generics, Specialty, and AvKARE. The Generics segment offers immediate and extended release oral solid, powder, liquid, sterile injectable, nasal spray, inhalation and respiratory, biosimilar, ophthalmic, film, transdermal patch, and topical products.