In a report released today, Louise Chen from Cantor Fitzgerald reiterated a Buy rating on Amneal Pharmaceuticals Inc (AMRX), with a price target of $35. The company’s shares opened today at $11.04, close to its 52-week low of $10.58.
Chen commented:
“. We reiterate our OW rating and 12-month PT of $35 for AMRX shares despite a 1Q19 EPS miss. We believe that AMRX will be able to successfully grow from a mid-size generics company into a leading generics and specialty pharma company. Therefore, upward earnings revisions in 2020+ should drive the stock higher. These upward earnings revisions should come from 1) new generic drug launches, 2) operating margin expansion, 3) high-margin brand drug sales, and 4) strategic M&A as well as tuck-in deals.”
According to TipRanks.com, Chen is a 4-star analyst with an average return of 7.4% and a 40.8% success rate. Chen covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, Bausch Health Companies Inc, and Aridis Pharmaceuticals Inc.
Amneal Pharmaceuticals Inc has an analyst consensus of Moderate Buy, with a price target consensus of $21.
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The company has a one-year high of $24.48 and a one-year low of $10.58. Currently, Amneal Pharmaceuticals Inc has an average volume of 827.7K.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AMRX in relation to earlier this year.
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Amneal Pharmaceuticals, Inc. is a pharmaceutical company, which engages in the development, manufacture, market and distribution of generic pharmaceutical products. It operates through the Generics and Specialty segments.
