Amneal Pharmaceuticals (AMRX) Hits New 12-Month Low at $8.23

Amneal Pharmaceuticals Inc (NYSE:AMRX)’s share price hit a new 52-week low on Wednesday . The company traded as low as $8.23 and last traded at $8.33, with a volume of 1787853 shares traded. The stock had previously closed at $9.07.

A number of brokerages have weighed in on AMRX. SunTrust Banks began coverage on shares of Amneal Pharmaceuticals in a research report on Tuesday, March 19th. They set a “buy” rating and a $16.00 target price for the company. ValuEngine lowered shares of Amneal Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, April 5th. Zacks Investment Research upgraded shares of Amneal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Cantor Fitzgerald restated a “buy” rating and issued a $35.00 price objective on shares of Amneal Pharmaceuticals in a research report on Thursday, February 28th. Finally, Leerink Swann lowered shares of Amneal Pharmaceuticals to a “market perform” rating in a research report on Friday, March 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $20.10.

The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.37 and a current ratio of 2.11. The stock has a market cap of $2.60 billion, a P/E ratio of 9.06, a P/E/G ratio of 0.51 and a beta of 1.31.

Amneal Pharmaceuticals (NYSE:AMRX) last announced its earnings results on Thursday, May 9th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The company had revenue of $446.00 million during the quarter, compared to analysts’ expectations of $438.18 million. Amneal Pharmaceuticals had a negative net margin of 3.75% and a positive return on equity of 32.14%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts forecast that Amneal Pharmaceuticals Inc will post 0.95 EPS for the current fiscal year.

In related news, Director Peter R. Terreri sold 23,345 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $12.39, for a total value of $289,244.55. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Andrew S. Boyer bought 19,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average cost of $9.46 per share, for a total transaction of $179,740.00. The disclosure for this purchase can be found here. Insiders purchased 58,000 shares of company stock worth $590,790 over the last ninety days. 26.34% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. NumerixS Investment Technologies Inc raised its stake in Amneal Pharmaceuticals by 52.1% in the first quarter. NumerixS Investment Technologies Inc now owns 3,052 shares of the company’s stock valued at $42,000 after purchasing an additional 1,045 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Amneal Pharmaceuticals by 28.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,700 shares of the company’s stock worth $91,000 after acquiring an additional 1,477 shares in the last quarter. Quantamental Technologies LLC raised its stake in shares of Amneal Pharmaceuticals by 34.0% during the first quarter. Quantamental Technologies LLC now owns 6,700 shares of the company’s stock worth $95,000 after acquiring an additional 1,700 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Amneal Pharmaceuticals by 5.5% during the fourth quarter. Legal & General Group Plc now owns 34,505 shares of the company’s stock worth $467,000 after acquiring an additional 1,810 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Amneal Pharmaceuticals by 11.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 18,269 shares of the company’s stock worth $259,000 after acquiring an additional 1,828 shares in the last quarter. 38.31% of the stock is currently owned by institutional investors and hedge funds.

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About Amneal Pharmaceuticals (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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