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

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.570-0.630 for the period, compared to the consensus 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 2.2 %

Shares of NASDAQ AMRX traded up $0.17 during trading hours on Wednesday, reaching $8.02. The stock had a trading volume of 336,589 shares, compared to its average volume of 958,727. Amneal Pharmaceuticals has a 52-week low of $5.01 and a 52-week high of $9.48. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -11.79 and a beta of 1.10. The business's fifty day moving average price is $8.20 and its two-hundred day moving average price is $8.08.

Analysts Set New Price Targets

AMRX has been the topic of several research reports. Piper Sandler raised their price target on 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 downgraded shares of Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Thursday, December 19th. Finally, Truist Financial upped their price target on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a "buy" rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $10.00.

Insiders Place Their Bets

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