Amneal Pharmaceuticals (NASDAQ:AMRX) Updates FY 2024 Earnings Guidance

Amneal Pharmaceuticals (NASDAQ:AMRX) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.570-0.630 for the period, compared to the consensus earnings per share estimate of 0.610. The company issued revenue guidance of $2.7 billion-$2.8 billion, compared to the consensus revenue estimate of $2.8 billion.

Amneal Pharmaceuticals Trading Up 1.7 %

Shares of NASDAQ AMRX opened at $7.85 on Wednesday. Amneal Pharmaceuticals has a 12-month low of $5.01 and a 12-month high of $9.48. The stock’s 50 day simple moving average is $8.20 and its 200 day simple moving average is $8.08. The company has a market cap of $2.43 billion, a price-to-earnings ratio of -11.54 and a beta of 1.10.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Truist Financial lifted their price objective on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Insider Buying and Selling

In other news, Director Gautam Patel sold 17,410 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.01, for a total value of $139,454.10. Following the transaction, the director now directly owns 2,031,476 shares of the company’s stock, valued at approximately $16,272,122.76. This represents a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jason B. Daly sold 43,657 shares of Amneal Pharmaceuticals stock in a transaction on Friday, November 15th. The shares were sold at an average price of $8.61, for a total value of $375,886.77. Following the sale, the senior vice president now directly owns 13,665 shares of the company’s stock, valued at approximately $117,655.65. The trade was a 76.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 123,657 shares of company stock worth $1,016,687. 26.56% of the stock is owned by company insiders.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals, Inc, together with its subsidiaries, develops, manufactures, markets, and distributes generics, injectables, biosimilars, and specialty branded pharmaceutical products worldwide. The company operates through three segments: Generics, Specialty, and AvKARE. The Generics segment offers immediate and extended release oral solid, powder, liquid, sterile injectable, nasal spray, inhalation and respiratory, biosimilar, ophthalmic, film, transdermal patch, and topical products.