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

Amneal Pharmaceuticals (NASDAQ:AMRX) updated its FY 2024 earnings guidance on Friday. 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.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Truist Financial increased their price objective on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price target for the company in a report on Friday, September 6th. Finally, Barclays boosted their price objective on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. One research 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 a consensus price target of $9.40.

Amneal Pharmaceuticals Stock Performance

AMRX opened at $8.73 on Friday. Amneal Pharmaceuticals has a one year low of $3.96 and a one year high of $8.95. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of -12.84 and a beta of 1.17. The stock’s 50 day moving average price is $8.53 and its 200-day moving average price is $7.54.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its earnings results on Friday, August 9th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. The business had revenue of $701.78 million during the quarter, compared to the consensus estimate of $657.43 million. Amneal Pharmaceuticals had a positive return on equity of 1,235.03% and a negative net margin of 6.72%. As a group, analysts predict that Amneal Pharmaceuticals will post 0.52 earnings per share for the current fiscal 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.