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

Amneal Pharmaceuticals (NASDAQ:AMRX) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.570-0.630 for the period, compared to the consensus 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

AMRX stock opened at $8.22 on Thursday. The firm has a 50 day moving average of $8.20 and a 200-day moving average of $8.08. Amneal Pharmaceuticals has a 12 month low of $5.01 and a 12 month high of $9.48.

Analyst Ratings Changes

Several brokerages have commented on AMRX. Truist Financial raised their price target on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. StockNews.com lowered Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Finally, Piper Sandler upped their target price on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $10.00.

Insider Activity

In related news, Director Gautam Patel sold 62,590 shares of the stock in a transaction on 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 owns 1,968,886 shares of the company’s stock, valued at $15,770,776.86. This represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jason B. Daly sold 43,657 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $8.61, for a total value of $375,886.77. Following the sale, the senior vice president now owns 13,665 shares in the company, valued at $117,655.65. The trade was a 76.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 123,657 shares of company stock worth $1,016,687. 17.46% of the stock is currently owned by corporate insiders.

Amneal Pharmaceuticals Company Profile

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.