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

Amneal Pharmaceuticals (NASDAQ:AMRX) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.570-0.630 for the period, compared to the consensus EPS 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.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMRX. StockNews.com lowered shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Truist Financial increased their target price on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler upped their price target on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Amneal Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $10.00.

Amneal Pharmaceuticals Stock Performance

Shares of Amneal Pharmaceuticals stock opened at $8.31 on Friday. The firm’s 50-day simple moving average is $8.20 and its 200-day simple moving average is $8.08. Amneal Pharmaceuticals has a 1 year low of $5.01 and a 1 year high of $9.48.

Insiders Place Their Bets

In other Amneal Pharmaceuticals news, 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 transaction of $375,886.77. Following the sale, the senior vice president now owns 13,665 shares in the company, valued at $117,655.65. The trade was a 76.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gautam Patel sold 17,410 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.01, for a total transaction of $139,454.10. Following the sale, the director now directly owns 2,031,476 shares of the company’s stock, valued at approximately $16,272,122.76. The trade was a 0.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 123,657 shares of company stock worth $1,016,687. 17.46% of the stock is owned by corporate insiders.

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.