Zacks Investment Research Lowers Amneal Pharmaceuticals (AMRX) to Sell

Zacks Investment Research cut shares of Amneal Pharmaceuticals (NYSE:AMRX) from a hold rating to a sell rating in a report released on Monday morning.

According to Zacks, “Amneal Pharmaceuticals LLC is an integrated specialty pharmaceutical company. It focused on developing, manufacturing and distributing generic, brand and biosimilar products. The company operates primarily in North America, Asia and Europe. Amneal Pharmaceuticals LLC, formerly known as Impax Laboratories Inc., is based in New Jersey, United States. “

A number of other equities research analysts have also issued reports on the company. ValuEngine lowered Amneal Pharmaceuticals from a hold rating to a sell rating in a research note on Thursday, January 10th. Leerink Swann reiterated an outperform rating and issued a $19.00 target price (down previously from $25.00) on shares of Amneal Pharmaceuticals in a research note on Thursday, January 3rd. Morgan Stanley lowered their target price on Amneal Pharmaceuticals from $26.00 to $24.00 and set an overweight rating for the company in a research note on Wednesday, October 3rd. Finally, SunTrust Banks lowered Amneal Pharmaceuticals from a buy rating to a hold rating and set a $15.00 target price for the company. in a research note on Tuesday, October 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $21.67.

Amneal Pharmaceuticals stock opened at $12.49 on Monday. The stock has a market capitalization of $3.71 billion, a PE ratio of 19.73, a PEG ratio of 0.45 and a beta of 1.62. 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 has a 12 month low of $12.25 and a 12 month high of $24.48.

Amneal Pharmaceuticals (NYSE:AMRX) last released its quarterly earnings data on Wednesday, November 7th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $476.50 million for the quarter, compared to the consensus estimate of $486.01 million. Amneal Pharmaceuticals had a positive return on equity of 4.98% and a negative net margin of 36.54%. Amneal Pharmaceuticals’s revenue for the quarter was up 87.1% on a year-over-year basis. On average, equities analysts forecast that Amneal Pharmaceuticals will post 0.91 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in Amneal Pharmaceuticals by 12.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,155 shares of the company’s stock valued at $536,000 after purchasing an additional 2,739 shares in the last quarter. Icon Advisers Inc. Co. lifted its holdings in Amneal Pharmaceuticals by 11.3% during the 3rd quarter. Icon Advisers Inc. Co. now owns 32,500 shares of the company’s stock worth $721,000 after buying an additional 3,300 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Amneal Pharmaceuticals by 14.9% during the 3rd quarter. Hsbc Holdings PLC now owns 28,613 shares of the company’s stock worth $635,000 after buying an additional 3,706 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Amneal Pharmaceuticals during the 3rd quarter worth approximately $101,000. Finally, Great West Life Assurance Co. Can lifted its holdings in Amneal Pharmaceuticals by 63.4% during the 3rd quarter. Great West Life Assurance Co. Can now owns 12,969 shares of the company’s stock worth $288,000 after buying an additional 5,033 shares during the last quarter. Hedge funds and other institutional investors own 35.92% of the company’s stock.

About Amneal Pharmaceuticals

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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