SunTrust Banks Lowers Amneal Pharmaceuticals (AMRX) to Hold

Amneal Pharmaceuticals (NYSE:AMRX) was downgraded by investment analysts at SunTrust Banks from a “buy” rating to a “hold” rating in a report issued on Tuesday, October 16th, Marketbeat.com reports. They presently have a $15.00 price objective on the stock. SunTrust Banks’ target price would suggest a potential downside of 24.05% from the company’s current price. SunTrust Banks also issued estimates for Amneal Pharmaceuticals’ Q3 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.30 EPS, FY2018 earnings at $0.94 EPS, FY2019 earnings at $1.24 EPS and FY2020 earnings at $1.66 EPS.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada upgraded shares of Amneal Pharmaceuticals from a “sector perform” rating to an “outperform” rating in a research note on Monday, August 13th. BMO Capital Markets increased their price objective on shares of Amneal Pharmaceuticals from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Friday, August 10th. Zacks Investment Research lowered shares of Amneal Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. B. Riley increased their price objective on shares of Amneal Pharmaceuticals from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, August 22nd. Finally, Morgan Stanley reduced 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. One equities research 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 stock presently has an average rating of “Hold” and an average target price of $22.75.

Shares of NYSE AMRX traded down $0.32 during trading on Tuesday, hitting $19.75. 616,528 shares of the company traded hands, compared to its average volume of 1,405,760. The company has a current ratio of 2.01, a quick ratio of 1.25 and a debt-to-equity ratio of 2.85. Amneal Pharmaceuticals has a fifty-two week low of $13.47 and a fifty-two week high of $24.48. The firm has a market capitalization of $6.14 billion, a P/E ratio of 31.35, a P/E/G ratio of 1.01 and a beta of 1.56.

Amneal Pharmaceuticals (NYSE:AMRX) last posted its earnings results on Wednesday, November 7th. The company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.01. Amneal Pharmaceuticals had a negative net margin of 36.54% and a positive return on equity of 6.62%. The company had revenue of $476.50 million for the quarter, compared to analyst estimates of $486.01 million. The company’s quarterly revenue was up 87.1% compared to the same quarter last year. Equities research analysts forecast that Amneal Pharmaceuticals will post 0.91 EPS for the current year.

In related news, CFO Bryan M. Reasons sold 11,698 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $23.65, for a total value of $276,657.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nikita Shah sold 50,000 shares of the stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $23.46, for a total transaction of $1,173,000.00. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of AMRX. DekaBank Deutsche Girozentrale purchased a new stake in Amneal Pharmaceuticals in the 3rd quarter worth approximately $101,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Amneal Pharmaceuticals in the 3rd quarter worth approximately $116,000. SG Americas Securities LLC purchased a new stake in Amneal Pharmaceuticals in the 2nd quarter worth approximately $120,000. Neuburgh Advisers LLC purchased a new stake in Amneal Pharmaceuticals in the 2nd quarter worth approximately $123,000. Finally, Great West Life Assurance Co. Can purchased a new stake in Amneal Pharmaceuticals in the 2nd quarter worth approximately $130,000. Institutional investors and hedge funds own 31.84% of the company’s stock.

Amneal Pharmaceuticals Company Profile

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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Analyst Recommendations for Amneal Pharmaceuticals (NYSE:AMRX)

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