Amneal Pharmaceuticals’ (AMRX) Hold Rating Reaffirmed at Canaccord Genuity

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Canaccord Genuity reaffirmed their hold rating on shares of Amneal Pharmaceuticals (NYSE:AMRX) in a research note released on Monday morning. Canaccord Genuity currently has a $21.00 price objective on the stock.

“We expect the deal to bring accretion starting in 2Q/19, which should help contribute to achieving the long-term goals that management set at the Impax/Amneal announcement, of double-digit revenue and EPS growth through 2020. In addition, we believe the deal is evidence of Amneal’s deal- making prowess that could result in further creative transactions moving forward. That said, as the core business continues to perform, we expect sentiment to improve on AMRX shares as the newco puts a number of quarters under its belt. We’re waiting on the sidelines as we watch the company continue to evolve; maintain HOLD. Deal consolidates branded and generic JSP levo products. The transaction gives Amneal access to JSP’s generic levothyroxine, an approximately $200 million run-rate product, in addition to the branded Unithroid Amneal already distributes for JSP.”,” Canaccord Genuity’s analyst wrote.

Other analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Amneal Pharmaceuticals from a hold rating to a buy rating and set a $21.00 price objective on the stock in a research report on Saturday, July 14th. B. Riley started coverage on shares of Amneal Pharmaceuticals in a research report on Friday, June 22nd. They set a buy rating and a $26.00 price objective on the stock. Cantor Fitzgerald restated a buy rating and set a $35.00 price objective on shares of Amneal Pharmaceuticals in a research report on Thursday, August 9th. Guggenheim restated a hold rating on shares of Amneal Pharmaceuticals in a research report on Friday, May 18th. Finally, ValuEngine upgraded shares of Amneal Pharmaceuticals from a sell rating to a hold rating in a research report on Friday, August 3rd. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $23.29.

AMRX opened at $24.27 on Monday. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.25 and a current ratio of 2.01. Amneal Pharmaceuticals has a 1-year low of $13.47 and a 1-year high of $25.70. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 38.52, a price-to-earnings-growth ratio of 1.07 and a beta of 1.28.

Amneal Pharmaceuticals (NYSE:AMRX) last released its quarterly earnings results on Thursday, August 9th. The company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The business had revenue of $462.33 million for the quarter, compared to the consensus estimate of $460.82 million. Amneal Pharmaceuticals had a negative net margin of 52.94% and a negative return on equity of 8.74%. The firm’s revenue was down 2.5% compared to the same quarter last year. equities analysts anticipate that Amneal Pharmaceuticals will post 0.96 EPS for the current year.

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Amneal Pharmaceuticals during the second quarter valued at $120,000. Neuburgh Advisers LLC purchased a new position in Amneal Pharmaceuticals during the second quarter valued at $123,000. Great West Life Assurance Co. Can purchased a new position in Amneal Pharmaceuticals during the second quarter valued at $130,000. Sei Investments Co. purchased a new position in Amneal Pharmaceuticals during the second quarter valued at $139,000. Finally, Riverhead Capital Management LLC purchased a new position in Amneal Pharmaceuticals during the second quarter valued at $141,000.

Amneal Pharmaceuticals Company Profile

Amneal Pharmaceuticals, Inc, a specialty pharmaceutical company, develops, manufactures, markets, and distributes generic pharmaceutical products for various dosage forms and therapeutic areas. It operates through Generic and Specialty Pharma divisions. The company's generics portfolio includes approximately 200 product families marketed in various dosage forms, such as solid oral doses comprising tablets, capsules, and powders; liquids; sterile injectables; nasal sprays; inhalation and respiratory products; ophthalmics; films; transdermal patches; and topicals, as well as soft gel, complex molecule, and drug-device combinations.

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Analyst Recommendations for Amneal Pharmaceuticals (NYSE:AMRX)

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