Amneal Pharmaceuticals (AMRX) Shares Down 6.1%

Amneal Pharmaceuticals Inc (NYSE:AMRX) fell 6.1% during mid-day trading on Friday . The stock traded as low as $17.50 and last traded at $17.71. 1,183,326 shares traded hands during trading, an increase of 2% from the average session volume of 1,164,146 shares. The stock had previously closed at $18.87.

Several brokerages have recently issued reports on AMRX. Canaccord Genuity increased their price objective on shares of Amneal Pharmaceuticals from $18.00 to $21.00 and gave the stock a “hold” rating in a research report on Tuesday, August 14th. Cantor Fitzgerald reissued a “buy” rating and set a $35.00 price objective on shares of Amneal Pharmaceuticals in a research report on Thursday, August 9th. BMO Capital Markets increased their price objective on shares of Amneal Pharmaceuticals from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Friday, August 10th. Morgan Stanley decreased their target price on shares of Amneal Pharmaceuticals from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday, October 3rd. Finally, B. Riley raised their target price on shares of Amneal Pharmaceuticals from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, August 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $22.75.

The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 0.86 and a beta of 1.56. The company has a current ratio of 1.91, a quick ratio of 1.26 and a debt-to-equity ratio of 2.92.

Amneal Pharmaceuticals (NYSE:AMRX) last released its earnings results on Wednesday, November 7th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $476.50 million during the quarter, compared to the consensus estimate of $486.01 million. Amneal Pharmaceuticals had a negative net margin of 36.54% and a positive return on equity of 4.98%. The business’s revenue for the quarter was up 87.1% on a year-over-year basis. Equities analysts predict that Amneal Pharmaceuticals Inc will post 0.92 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale acquired a new stake in Amneal Pharmaceuticals in the third quarter valued at $101,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Amneal Pharmaceuticals in the third quarter valued at $116,000. SG Americas Securities LLC acquired a new stake in Amneal Pharmaceuticals in the second quarter valued at $120,000. Neuburgh Advisers LLC acquired a new stake in Amneal Pharmaceuticals in the second quarter valued at $123,000. Finally, Great West Life Assurance Co. Can acquired a new stake in Amneal Pharmaceuticals in the second quarter valued at $130,000. 32.78% of the stock is owned by institutional investors and hedge funds.

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About Amneal Pharmaceuticals (NYSE:AMRX)

Amneal Pharmaceuticals, Inc, a specialty pharmaceutical company, develops, manufactures, markets, and distributes generic pharmaceutical products for various dosage forms and therapeutic areas. It operates through Generic and Specialty Pharma divisions. The company's generics portfolio includes approximately 200 product families marketed in various dosage forms, such as solid oral doses comprising tablets, capsules, and powders; liquids; sterile injectables; nasal sprays; inhalation and respiratory products; ophthalmics; films; transdermal patches; and topicals, as well as soft gel, complex molecule, and drug-device combinations.

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