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

Amneal Pharmaceuticals (NASDAQ:AMRX) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0.570-0.630 for the period, compared to the consensus estimate of 0.600. The company issued revenue guidance of $2.7 billion-$2.8 billion, compared to the consensus revenue estimate of $2.8 billion.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMRX. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price objective on the stock in a report on Friday, September 6th. Barclays upped their price target on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Finally, Truist Financial raised their price objective on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.40.

Amneal Pharmaceuticals Stock Up 1.4 %

Shares of AMRX stock opened at $8.73 on Friday. The stock has a market cap of $2.70 billion, a P/E ratio of -12.84 and a beta of 1.17. Amneal Pharmaceuticals has a fifty-two week low of $3.96 and a fifty-two week high of $8.95. The business has a fifty day simple moving average of $8.53 and a 200-day simple moving average of $7.54.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its earnings results on Friday, August 9th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. Amneal Pharmaceuticals had a negative net margin of 6.72% and a positive return on equity of 1,235.03%. The firm had revenue of $701.78 million during the quarter, compared to the consensus estimate of $657.43 million. On average, sell-side analysts anticipate that Amneal Pharmaceuticals will post 0.52 earnings per share for the current year.

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.