Zacks Investment Research Lowers Amneal Pharmaceuticals (NYSE:AMRX) to Sell

Zacks Investment Research cut shares of Amneal Pharmaceuticals (NYSE:AMRX) from a hold rating to a sell rating in a research note published on Wednesday morning, Zacks.com reports.

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 analysts have also recently issued reports on AMRX. SunTrust Banks assumed coverage on Zoetis in a research report on Tuesday, March 19th. They issued a hold rating and a $100.00 target price for the company. Piper Jaffray Companies set a $92.00 price objective on Wintrust Financial and gave the stock a buy rating in a research report on Monday, July 8th. BMO Capital Markets increased their price objective on Sun Life Financial from C$58.00 to C$60.00 in a research report on Friday, May 10th. Raymond James increased their price objective on S&P Global from $226.00 to $246.00 and gave the stock an outperform rating in a research report on Wednesday. Finally, ValuEngine cut Whiting USA Trust II from a hold rating to a sell rating in a research report on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $14.58.

NYSE:AMRX opened at $3.70 on Wednesday. The business’s 50-day simple moving average is $7.12. The firm has a market cap of $1.21 billion, a PE ratio of 3.89, a P/E/G ratio of 0.25 and a beta of 1.50. Amneal Pharmaceuticals has a 1 year low of $3.69 and a 1 year high of $24.48. The company has a current ratio of 2.11, a quick ratio of 1.37 and a debt-to-equity ratio of 3.44.

Amneal Pharmaceuticals (NYSE:AMRX) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.07). The business had revenue of $446.00 million for the quarter, compared to analyst estimates of $438.18 million. Amneal Pharmaceuticals had a positive return on equity of 32.14% and a negative net margin of 3.75%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, research analysts forecast that Amneal Pharmaceuticals will post 0.91 EPS for the current fiscal year.

In other Amneal Pharmaceuticals news, VP Andrew S. Boyer bought 19,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was acquired at an average cost of $9.46 per share, with a total value of $179,740.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Pradeep Bhadauria bought 7,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average cost of $8.48 per share, with a total value of $59,360.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 41,000 shares of company stock valued at $387,300 over the last ninety days. 26.34% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of AMRX. Norges Bank purchased a new position in shares of Amneal Pharmaceuticals during the 4th quarter worth approximately $18,243,000. Marshall Wace LLP increased its stake in Amneal Pharmaceuticals by 487.8% in the 1st quarter. Marshall Wace LLP now owns 492,275 shares of the company’s stock valued at $6,977,000 after purchasing an additional 408,533 shares in the last quarter. Phocas Financial Corp. purchased a new position in Amneal Pharmaceuticals in the 1st quarter valued at approximately $5,331,000. Spark Investment Management LLC increased its stake in Amneal Pharmaceuticals by 142.0% in the 1st quarter. Spark Investment Management LLC now owns 359,600 shares of the company’s stock valued at $5,095,000 after purchasing an additional 211,000 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in Amneal Pharmaceuticals by 30.4% in the 4th quarter. Stifel Financial Corp now owns 578,967 shares of the company’s stock valued at $7,807,000 after purchasing an additional 134,910 shares in the last quarter. 36.05% of the stock is owned by institutional investors and hedge funds.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals, Inc, together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic and specialty pharmaceutical products for various dosage forms and therapeutic areas. It operates through two segments, Generics and Specialty. The Generics segment develops, manufactures, and commercializes complex oral solids, injectables, ophthalmics, liquids, topicals, softgels, inhalation products, and transdermals across a range of therapeutic categories.

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