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

Amneal Pharmaceuticals (NASDAQ:AMRX) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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 Analysts Forecast Growth

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

Amneal Pharmaceuticals Trading Up 4.7 %

Amneal Pharmaceuticals stock opened at $8.22 on Thursday. The business’s 50 day simple moving average is $8.20 and its 200 day simple moving average is $8.08. Amneal Pharmaceuticals has a 12 month low of $5.01 and a 12 month high of $9.48.

Insider Transactions at Amneal Pharmaceuticals

In other news, SVP Jason B. Daly sold 43,657 shares of the business’s stock in a transaction that occurred 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 owns 13,665 shares of the company’s stock, valued at $117,655.65. The trade was a 76.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $8.01, for a total transaction of $501,345.90. Following the completion of the transaction, the director now owns 1,968,886 shares of the company’s stock, valued at $15,770,776.86. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,657 shares of company stock worth $1,016,687. 17.46% 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.