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 EPS guidance of 0.570-0.630 for the period, compared to the consensus EPS 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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Truist Financial upped their price target on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 target price on the stock in a research note on Friday, September 6th. Finally, Barclays lifted their price target on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. One equities research 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 has a consensus rating of “Moderate Buy” and a consensus target price of $9.40.

Amneal Pharmaceuticals Stock Up 1.3 %

NASDAQ AMRX opened at $8.61 on Friday. The company has a 50-day moving average price of $8.53 and a 200-day moving average price of $7.51. Amneal Pharmaceuticals has a 52 week low of $3.96 and a 52 week high of $8.95. The firm has a market capitalization of $2.67 billion, a P/E ratio of -13.89 and a beta of 1.17.

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

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.