Amneal Pharmaceuticals (NYSE:AMRX) Trading Down 6.7% After Analyst Downgrade

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Shares of Amneal Pharmaceuticals Inc (NYSE:AMRX) were down 6.7% on Thursday after SunTrust Banks lowered their price target on the stock from $16.00 to $9.00. SunTrust Banks currently has a buy rating on the stock. Amneal Pharmaceuticals traded as low as $4.32 and last traded at $4.07, approximately 55,394 shares changed hands during trading. A decline of 95% from the average daily volume of 1,115,365 shares. The stock had previously closed at $4.36.

Other research analysts have also issued reports about the stock. Raymond James increased their price objective on shares of S&P Global from $226.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday. Zacks Investment Research lowered shares of ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine lowered shares of Whiting USA Trust II from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. Barclays reiterated a “hold” rating on shares of Bank of Montreal in a report on Tuesday, June 11th. Finally, Royal Bank of Canada lowered shares of Amneal Pharmaceuticals from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $11.00 to $6.00 in a report on Thursday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Amneal Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $14.58.

In other Amneal Pharmaceuticals news, VP Andrew S. Boyer purchased 19,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average price of $9.46 per share, for a total transaction of $179,740.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Pradeep Bhadauria purchased 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was acquired at an average price of $8.48 per share, for a total transaction of $59,360.00. The disclosure for this purchase can be found here. Insiders purchased 41,000 shares of company stock worth $387,300 in the last 90 days. 26.34% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of AMRX. Norges Bank purchased a new position in Amneal Pharmaceuticals in the fourth quarter valued at approximately $18,243,000. Marshall Wace LLP raised its holdings in Amneal Pharmaceuticals by 487.8% in the first quarter. Marshall Wace LLP now owns 492,275 shares of the company’s stock valued at $6,977,000 after buying an additional 408,533 shares during the period. Phocas Financial Corp. purchased a new position in Amneal Pharmaceuticals in the first quarter valued at approximately $5,331,000. Spark Investment Management LLC raised its holdings in Amneal Pharmaceuticals by 142.0% in the first quarter. Spark Investment Management LLC now owns 359,600 shares of the company’s stock valued at $5,095,000 after buying an additional 211,000 shares during the period. Finally, Stifel Financial Corp raised its holdings in Amneal Pharmaceuticals by 30.4% in the fourth quarter. Stifel Financial Corp now owns 578,967 shares of the company’s stock valued at $7,807,000 after buying an additional 134,910 shares during the period. Hedge funds and other institutional investors own 36.05% of the company’s stock.

The stock’s fifty day moving average is $7.12. The company has a current ratio of 2.11, a quick ratio of 1.37 and a debt-to-equity ratio of 3.44. The firm has a market cap of $1.21 billion, a PE ratio of 3.89, a PEG ratio of 0.25 and a beta of 1.50.

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

About Amneal Pharmaceuticals (NYSE:AMRX)

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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