Amneal Pharmaceuticals (NYSE:AMRX) Cut to “Sector Perform” at Royal Bank of Canada

Royal Bank of Canada cut shares of Amneal Pharmaceuticals (NYSE:AMRX) from an outperform rating to a sector perform rating in a research report released on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has $6.00 target price on the stock, down from their prior target price of $11.00.

Several other analysts have also recently commented on AMRX. Zacks Investment Research cut shares of ExlService from a hold rating to a sell rating in a research note on Wednesday. Raymond James increased their price target on shares of S&P Global from $226.00 to $246.00 and gave the company an outperform rating in a research note on Wednesday. Piper Jaffray Companies set a $92.00 price target on shares of Wintrust Financial and gave the company a buy rating in a research note on Monday, July 8th. Barclays reissued a hold rating on shares of Bank of Montreal in a research note on Tuesday, June 11th. Finally, Cantor Fitzgerald reissued an overweight rating and set a $130.00 price target (up from $116.00) on shares of Zoetis in a research note on Wednesday, June 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Amneal Pharmaceuticals currently has a consensus rating of Hold and a consensus target price of $14.58.

Shares of Amneal Pharmaceuticals stock opened at $3.70 on Thursday. The company has a debt-to-equity ratio of 3.44, a current ratio of 2.11 and a quick ratio of 1.37. The company has a market capitalization of $1.21 billion, a PE ratio of 3.89, a price-to-earnings-growth ratio of 0.25 and a beta of 1.50. Amneal Pharmaceuticals has a 1-year low of $3.69 and a 1-year high of $24.48. The business’s 50-day moving average price is $7.12.

Amneal Pharmaceuticals (NYSE:AMRX) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.07). The firm had revenue of $446.00 million for the quarter, compared to the consensus estimate of $438.18 million. Amneal Pharmaceuticals had a positive return on equity of 32.14% and a negative net margin of 3.75%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities analysts expect that Amneal Pharmaceuticals will post 0.91 EPS for the current fiscal year.

In other news, SVP Joseph Todisco bought 15,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were bought at an average cost of $9.88 per share, for a total transaction of $148,200.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Pradeep Bhadauria bought 7,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was purchased at an average price of $8.48 per share, for a total transaction of $59,360.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 41,000 shares of company stock worth $387,300. Insiders own 26.34% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Menta Capital LLC acquired a new stake in Amneal Pharmaceuticals in the fourth quarter worth $403,000. New York State Common Retirement Fund raised its holdings in Amneal Pharmaceuticals by 27.3% in the first quarter. New York State Common Retirement Fund now owns 108,616 shares of the company’s stock worth $1,539,000 after purchasing an additional 23,316 shares during the period. Meeder Asset Management Inc. raised its holdings in Amneal Pharmaceuticals by 785.6% in the first quarter. Meeder Asset Management Inc. now owns 11,664 shares of the company’s stock worth $166,000 after purchasing an additional 10,347 shares during the period. Norges Bank acquired a new stake in Amneal Pharmaceuticals in the fourth quarter worth $18,243,000. Finally, Principal Financial Group Inc. raised its holdings in Amneal Pharmaceuticals by 30.4% in the fourth quarter. Principal Financial Group Inc. now owns 16,485 shares of the company’s stock worth $223,000 after purchasing an additional 3,843 shares during the period. Institutional investors own 36.05% of the company’s stock.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals, Inc, together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic and specialty pharmaceutical products for various dosage forms and therapeutic areas. It operates through two segments, Generics and Specialty. The Generics segment develops, manufactures, and commercializes complex oral solids, injectables, ophthalmics, liquids, topicals, softgels, inhalation products, and transdermals across a range of therapeutic categories.

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Analyst Recommendations for Amneal Pharmaceuticals (NYSE:AMRX)

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