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

Amneal Pharmaceuticals (NASDAQ:AMRX) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 0.530-0.630 for the period, compared to the consensus EPS estimate of 0.580. The company issued revenue guidance of $2.6 billion-$2.7 billion, compared to the consensus revenue estimate of $2.6 billion.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays upped their target price on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an overweight rating in a research report on Monday, January 29th. Piper Sandler increased their price target on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an overweight rating in a research report on Thursday, March 21st. StockNews.com cut shares of Amneal Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Monday, March 4th. Finally, The Goldman Sachs Group increased their price target on shares of Amneal Pharmaceuticals from $5.50 to $6.25 and gave the stock a buy rating in a research report on Monday, March 4th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of Buy and an average price target of $7.31.

Amneal Pharmaceuticals Stock Up 8.9 %

NASDAQ:AMRX traded up $0.55 during mid-day trading on Friday, hitting $6.76. The stock had a trading volume of 3,849,424 shares, compared to its average volume of 1,569,354. The stock has a 50-day simple moving average of $5.74 and a two-hundred day simple moving average of $5.25. The company has a market capitalization of $2.08 billion, a PE ratio of -21.81 and a beta of 1.33. Amneal Pharmaceuticals has a twelve month low of $1.74 and a twelve month high of $6.90. The company has a current ratio of 1.63, a quick ratio of 0.94 and a debt-to-equity ratio of 121.31.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its earnings results on Friday, March 1st. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.07. The firm had revenue of $616.98 million for the quarter, compared to analysts’ expectations of $630.67 million. Amneal Pharmaceuticals had a negative net margin of 3.51% and a positive return on equity of 126.04%. On average, equities research analysts anticipate that Amneal Pharmaceuticals will post 0.5 EPS for the current year.

Amneal Pharmaceuticals Company Profile

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.