Cantor Fitzgerald analyst Louise Chen reiterated a Buy rating on Amneal Pharmaceuticals Inc (AMRX) today and set a price target of $35. The company’s shares opened today at $12.46, close to its 52-week low of $11.66.
Chen commented:
“. We reiterate our OW rating and 12-month PT of $35 for AMRX shares post a 4Q18 beat and despite lower than anticipated guidance for 2019. We still 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 5-star analyst with an average return of 15.9% and a 43.2% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Melinta Therapeutics Inc.
Amneal Pharmaceuticals Inc has an analyst consensus of Moderate Buy, with a price target consensus of $26.50.
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Based on Amneal Pharmaceuticals Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $6.95 million. In comparison, last year the company had a GAAP net loss of $301 million.
Based on the recent corporate insider activity of 17 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 also engages in the development, manufacture and sale of branded products. The company was founded in 2017 and is headquartered in Bridgewater, NJ.
