Piper Jaffray Companies Weighs in on Amneal Pharmaceuticals Inc’s Q3 2019 Earnings (AMRX)

Amneal Pharmaceuticals Inc (NYSE:AMRX) – Investment analysts at Piper Jaffray Companies raised their Q3 2019 earnings per share (EPS) estimates for Amneal Pharmaceuticals in a research note issued to investors on Wednesday, November 7th. Piper Jaffray Companies analyst D. Amsellem now forecasts that the company will post earnings of $0.31 per share for the quarter, up from their previous forecast of $0.30.

Amneal Pharmaceuticals (NYSE:AMRX) last announced its quarterly earnings data on Wednesday, November 7th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $476.50 million for the quarter, compared to analyst estimates of $486.01 million. Amneal Pharmaceuticals had a negative return on equity of 8.74% and a negative net margin of 52.94%. Amneal Pharmaceuticals’s revenue for the quarter was up 87.1% compared to the same quarter last year.

Several other equities analysts have also commented on AMRX. Canaccord Genuity increased their price objective on Amneal Pharmaceuticals from $18.00 to $21.00 and gave the company a “hold” rating in a research report on Tuesday, August 14th. Zacks Investment Research lowered Amneal Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. ValuEngine upgraded Amneal Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Cantor Fitzgerald reiterated a “buy” rating and issued a $35.00 price objective on shares of Amneal Pharmaceuticals in a report on Thursday, August 9th. Finally, BMO Capital Markets increased their price objective on Amneal Pharmaceuticals from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Friday, August 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Amneal Pharmaceuticals has a consensus rating of “Hold” and an average price target of $22.75.

Shares of Amneal Pharmaceuticals stock traded down $0.15 during trading on Friday, hitting $19.92. 3,177 shares of the stock traded hands, compared to its average volume of 1,428,305. The company has a current ratio of 2.01, a quick ratio of 1.25 and a debt-to-equity ratio of 2.85. The firm has a market capitalization of $5.70 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 0.90 and a beta of 1.56. Amneal Pharmaceuticals has a 52 week low of $13.47 and a 52 week high of $24.48.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fosun International Ltd purchased a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at approximately $333,013,000. FMR LLC purchased a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at approximately $130,351,000. BlackRock Inc. purchased a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at approximately $95,312,000. TPG Group Holdings SBS Advisors Inc. purchased a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at approximately $67,438,000. Finally, Frontier Capital Management Co. LLC lifted its stake in shares of Amneal Pharmaceuticals by 37.1% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 2,876,367 shares of the company’s stock valued at $63,827,000 after purchasing an additional 777,764 shares during the period. Institutional investors 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.

Featured Article: What are the most popular ETFs

Earnings History and Estimates for Amneal Pharmaceuticals (NYSE:AMRX)

Receive News & Ratings for Amneal Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amneal Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply