Amneal Pharmaceuticals Inc (NASDAQ:AMRX) shares, rose in value, with the stock price up by 2.68% to the previous day’s close as strong demand from buyers drove the stock to $6.12.
Actively observing the price movement in the last trading, the stock closed the session at $5.96. The value of beta (5-year monthly) was 1.33. Referring to stock’s 52-week performance, its high was $6.46, and the low was $1.31. On the whole, AMRX has fluctuated by 15.25% over the past month.
With the market capitalization of Amneal Pharmaceuticals Inc currently standing at about $1.89 billion, investors are eagerly awaiting this quarter’s results, scheduled for Feb 29, 2024 – Mar 04, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.09, which is expected to increase to $0.15 for fiscal year $0.58 and then to about $0.66 by fiscal year 2025. Data indicates that the EPS growth is expected to be -9.40% in 2025, while the next year’s EPS growth is forecast to be 13.80%.
Analysts have estimated the company’s revenue for the quarter at $618.12 million, with a low estimate of $606.75 million and a high estimate of $631.33 million. According to the average forecast, sales growth in current quarter could jump up 10.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $2.61 billion, representing an increase of 9.00% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that AMRX’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of AMRX currently trading nearly 5.38% and 7.80% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 57.63, while the 7-day volatility ratio is showing 4.95% which for the 30-day chart, stands at 4.66%. Furthermore, Amneal Pharmaceuticals Inc (AMRX)’s beta value is 1.35, and its average true range (ATR) is 0.29.
A comparison of Amneal Pharmaceuticals Inc (AMRX) with its peers suggests the former has fared considerably weaker in the market. AMRX showed an intraday change of 2.68% in last session, and over the past year, it grew by 350.00%%.
Data on historical trading for Amneal Pharmaceuticals Inc (NASDAQ:AMRX) indicates that the trading volumes over the past 10 days have averaged 1.63 million and over the past 3 months, they’ve averaged 1.51 million. According to company’s latest data on outstanding shares, there are 306.56 million shares outstanding.
Nearly 64.21% of Amneal Pharmaceuticals Inc’s shares belong to company insiders and institutional investors own 24.62% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 2.07 million shares as on Mar 15, 2024, resulting in a short ratio of 1.32. According to the data, the short interest in Amneal Pharmaceuticals Inc (AMRX) stood at 0.67% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 2.1 million. The stock has risen by 0.82% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the AMRX stock heading into the next quarter.
