Amneal Pharmaceuticals (NYSE:AMRX) Given New $9.00 Price Target at SunTrust Banks

Amneal Pharmaceuticals (NYSE:AMRX) had its price target lowered by SunTrust Banks from $16.00 to $9.00 in a research note released on Thursday, The Fly reports. The firm currently has a buy rating on the stock. SunTrust Banks also issued estimates for Amneal Pharmaceuticals’ Q2 2019 earnings at $0.14 EPS.

AMRX has been the topic of a number of other research reports. Zacks Investment Research lowered ExlService from a hold rating to a sell rating in a research note on Wednesday. Piper Jaffray Companies set a $92.00 target price on Wintrust Financial and gave the stock a buy rating in a research note on Monday, July 8th. BMO Capital Markets increased their target price on Sun Life Financial from C$58.00 to C$60.00 in a research note on Friday, May 10th. Cantor Fitzgerald reiterated an overweight rating and issued a $130.00 target price (up previously from $116.00) on shares of Zoetis in a research note on Wednesday, June 12th. Finally, Raymond James increased their target price on S&P Global from $226.00 to $246.00 and gave the stock an outperform rating in a research note on Wednesday. Two research 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. The company currently has a consensus rating of Hold and an average price target of $14.58.

NYSE:AMRX opened at $3.70 on Thursday. The firm’s fifty day moving average is $7.12. Amneal Pharmaceuticals has a fifty-two week low of $3.69 and a fifty-two week high of $24.48. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 3.89, a PEG ratio of 0.25 and a beta of 1.50. The company has a quick ratio of 1.37, a current ratio of 2.11 and a debt-to-equity ratio of 3.44.

Amneal Pharmaceuticals (NYSE:AMRX) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.11 earnings per share 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 company had revenue of $446.00 million for the quarter, compared to analysts’ expectations of $438.18 million. The business’s revenue was up 4.9% on a year-over-year basis. As a group, analysts anticipate that Amneal Pharmaceuticals will post 0.91 earnings per share for the current fiscal year.

In other Amneal Pharmaceuticals news, VP Andrew S. Boyer purchased 19,000 shares of the stock in a transaction on Monday, May 13th. The stock was acquired at an average price of $9.46 per share, with a total value of $179,740.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Pradeep Bhadauria purchased 7,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was 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. In the last ninety days, insiders have purchased 41,000 shares of company stock worth $387,300. 26.34% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AMRX. BlackRock Inc. raised its stake in shares of Amneal Pharmaceuticals by 2.1% in the fourth quarter. BlackRock Inc. now owns 6,053,727 shares of the company’s stock worth $81,909,000 after purchasing an additional 121,800 shares during the last quarter. TCW Group Inc. raised its stake in shares of Amneal Pharmaceuticals by 2.8% in the first quarter. TCW Group Inc. now owns 2,302,363 shares of the company’s stock worth $32,625,000 after purchasing an additional 63,423 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of Amneal Pharmaceuticals by 1.7% in the first quarter. Neuberger Berman Group LLC now owns 1,709,999 shares of the company’s stock worth $24,227,000 after purchasing an additional 28,747 shares during the last quarter. Norges Bank purchased a new position in shares of Amneal Pharmaceuticals in the fourth quarter worth about $18,243,000. Finally, Geode Capital Management LLC raised its stake in shares of Amneal Pharmaceuticals by 13.9% in the fourth quarter. Geode Capital Management LLC now owns 889,980 shares of the company’s stock worth $12,041,000 after purchasing an additional 108,455 shares during the last quarter. 36.05% of the stock is owned by institutional investors and hedge funds.

Amneal Pharmaceuticals Company Profile

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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