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

Amneal Pharmaceuticals (NASDAQ:AMRX) issued an update on its FY 2024 earnings guidance on Friday morning. 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.

Amneal Pharmaceuticals Stock Performance

AMRX opened at $8.73 on Monday. Amneal Pharmaceuticals has a fifty-two week low of $3.96 and a fifty-two week high of $8.95. The company’s 50-day moving average is $8.53 and its 200 day moving average is $7.55.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its quarterly earnings data on Friday, August 9th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. The firm had revenue of $701.78 million during the quarter, compared to analyst estimates of $657.43 million. Amneal Pharmaceuticals had a negative net margin of 6.72% and a positive return on equity of 1,235.03%. As a group, research analysts predict that Amneal Pharmaceuticals will post 0.52 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on AMRX shares. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price objective for the company in a research note on Friday, September 6th. 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 note on Wednesday, October 2nd. Finally, Barclays increased their price objective on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.40.

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.