5.13 0.00 (0.00%)
After hours: 4:15PM EST
|Bid||5.10 x 900|
|Ask||5.14 x 800|
|Day's Range||5.11 - 5.42|
|52 Week Range||2.27 - 14.79|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 05, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||4.73|
We often see insiders buying up shares in companies that perform well over the long term. On the other hand, we'd be...
Amneal Pharmaceuticals, Inc. (NYSE: AMRX) today announced that members of management will present at the 38th Annual J.P. Morgan Healthcare Conference at the Westin St. Francis Hotel in San Francisco on Wednesday, January 15, 2020.
We are still in an overall bull market and many stocks that smart money investors were piling into surged through the end of November. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 54% and 51% respectively. Hedge funds' top 3 stock picks returned 41.7% this year and beat […]
Amneal Pharmaceuticals, Inc. (NYSE: AMRX) ("Amneal" or the "Company") today announced that Jeff George, John Kiely and Shlomo Yanai have been appointed to the Company’s Board of Directors, effective as of December 14, 2019. These three new independent directors bring to Amneal extensive records of overseeing growth and creating value in the pharmaceutical and healthcare industries.
Investors need to pay close attention to Amneal Pharmaceuticals (AMRX) stock based on the movements in the options market lately.
As the saying goes, good things come to those who wait, and following a year of decline, patience might finally be paying off for investors of beaten-up Amneal Pharmaceuticals (AMRX).AMRX stock skyrocketed nearly 50% in Thursday's trading session, following today’s announcement of Amneal receiving an FDA approval for EluRyng, the first generic version of NuvaRing -- a vaginal ring that releases so-called third-generation synthetic hormones.With the FDA's approval now in hand, Amneal is hoping to get a cut of NuvaRing’s contraceptive market. Nuvaring US sales totaled $976 million for the year (ending October 31).The uptick in fortune is a timely one for the beleaguered pharmaceutical. In tandem with a series of poor earnings and lower guidance reports, the company has been on a downhill slope for the majority of 2019. Until yesterday’s close, the stock was down by 75% for the year. Furthermore, the company has been dogged by opioid-related investigations, as Amneal is one of several pharmaceuticals to receive grand-jury subpoenas for an investigation looking into whether pharmaceutical companies deliberately allowed opioid analgesics to flood communities.It remains to be seen whether today’s boost instigates a broader change in fortune for AMRX. Guggenheim’s Dana Flanders hasn’t been convinced so far, with the analyst noting, “AMRX faced several headwinds in 3Q, including a sequential decline in several of its largest products (diclofenac, levothyroxine), while new launch revenue was only a modest ~$19M. AMRX’s generics business declined $27M sequentially to $291M in 3Q (adjusting for Oxymorphone reclassification), and we forecast a steeper ~$30M sequential decline in 4Q given epinephrine seasonality.” Flanders reiterated a Sell on AMRX, alongside a price target of $2.50, implying possible downside of about 50% from current levels. (To watch Flanders’ track record, click here)Flanders is not alone taking a bearish stance on AMRX. J.P. Morgan's Chris Schott recently downgraded the stock from Neutral to Underweight, noting: "While some of the challenges facing Amneal do appear fixable (supply penalties, plant utilization, etc.), many appear fundamental (a function of the evolving dynamics in the US Gx market) will likely take time and resources to fix (which the company is increasingly lacking at 7x leverage and with an everdepressed equity value)." The analyst added, "At this point, it appears that major pipeline successes would be needed to turn the story around, which appear increasingly un-likely in the near-term in our view. Along these lines, and after several quarters of disappointing results and guidance cuts, we are downgrading AMRX to Underweight."Are the analysts on the wrong side here? With the ailing pharmaceutical currently soaring up the charts, it will be interesting to watch if the bears can tame the unexpected bullish sentiment. Despite the upturn, Amneal is still a long way off where it begun 2019, trading at $14 per share. (See Amneal price targets and analyst ratings on TipRanks)To find good ideas for biotech stocks trading at fair value or better, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Investors love healthcare stocks for the lottery ticket-like returns they can offer if a company strikes medical gold or wins the FDA’s blessing. Case in point: Amneal Pharmaceuticals (AMRX), whose shares are jumping nearly 50% on Thursday, on the back of FDA approval for EluRyng, the first generic NuvaRing.NuvaRing is a flexible, transparent ring that contains the hormones estrogen and progestin to prevent an unwanted pregnancy.Amneal has initiated commercialization activities for EluRyng, which is being manufactured internally and launching today."We are pleased to announce FDA approval of EluRyng, one of 15 new, complex products we expect to launch over the next 18 to 24 months," said Chirag and Chintu Patel, Co-Chief Executive Officers. "This milestone underscores Amneal’s deep scientific and regulatory capabilities and our ability to overcome significant barriers to entry, including complex formulation development and specialized manufacturing requirements. In addition, EluRyng adds a differentiated, complex dosage form to our portfolio, and bringing this product to market reflects our commitment to improving affordable access to complex drug products. Looking ahead, we remain enthusiastic about the additional high-value opportunities in our pipeline that are designed to improve the lives of patients and drive meaningful growth and value-creation for our shareholders and other stakeholders in 2020 and beyond."According to IQVIA™, a leading healthcare data and analytics provider, NuvaRing U.S. annual sales for the 12 months ended October 31, 2019 were approximately $976 million. More recent articles from Smarter Analyst: * What’s Next for Netflix (NFLX) Stock? Here’s the Bull Case and the Bear Case * Earnings Preview: 3 "Strong Buy" Stocks to Watch This Evening * JPMorgan: 3 High-Yield Dividend Stocks to Snap Up Now * 3 Healthcare Stocks With Important Catalysts in Q1
Shares of Amneal Pharmaceuticals jumped 33% in premarket trading after the generic drugmaker said Thursday that it has started selling EluRyng, the first generic version of Merck's birth-control NuvaRing. The NuvaRing brought in $202 million in sales for Merck in the third quarter of 2019, up from $193 million in the same period a year ago. Separately, Amneal said earlier this week that it would acquire a 65.1% stake in AvKare, a privately held generic reseller that primarily serves the defense and Veterans Affairs departments, for $340 million. Amneal's stock has been battered by a swell of opioid-related investigations, hitting a low of $2.29 on Aug. 27 for the year. It has since come up, to $3.48, where it closed Wednesday, but it's still far below the year-to-date high of $16.66 on Dec. 11, 2018. The generic drugmaker's stock has fallen 74% year-to-date. The S&P 500 has gained 25%.
Amneal Pharmaceuticals, Inc. (NYSE: AMRX) ("Amneal" or the "Company") today announced that it has received Abbreviated New Drug Application (ANDA) approval from the U.S. Food and Drug Administration (FDA) for EluRyng™ (etonogestrel/ethinyl estradiol vaginal ring), the first generic version of NuvaRing®. Amneal has initiated commercialization activities for EluRyng, which is being manufactured internally and launching today.
Amneal Pharmaceuticals, Inc. (NYSE: AMRX) and AvKARE Inc. today announced they have entered into a definitive agreement under which Amneal will acquire a 65.1% majority interest in AvKARE and its related affiliate doing business as R&S Northeast (collectively, "AvKARE") for an implied enterprise value of $340 million. Following the close of the transaction, AvKARE will operate on a standalone basis as an independent subsidiary of Amneal.
Amneal Pharmaceuticals, Inc. (AMRX), today announced that it has received final U.S. Food and Drug Administration approval on its Abbreviated New Drug Application for a generic version of Carafate® (sucralfate) Oral Suspension, 1 g/10 ml. Amneal has immediately initiated commercialization activities. “We are proud to announce our approval for the first generic Sucralfate Oral Suspension, one of the 15 complex products we expect to launch over an 18 to 24-month period,” said Chirag and Chintu Patel, Co-Chief Executive Officers.
The following is a roundup of top developments in the biotech space over the last 24 hours: Scaling The Peaks (Biotech stocks that hit 52-week highs Dec. 2.) Aquestive Therapeutics Inc (NASDAQ: AQST ) ...
Amneal Pharmaceuticals, Inc. (AMRX), today announced that it has received final U.S. Food and Drug Administration (“FDA”) approval on its Abbreviated New Drug Applications (“ANDA”) for generic versions of Revatio® (sildenafil citrate) for Oral Suspension 10 mg/ml and Amicar® (aminocaproic acid) Tablets USP, 500 mg. Amneal has immediately initiated commercialization activities.
The stock prices of opioid drugmakers and distributors fell this week after news of a possible federal criminal probe, eroding many of the gains made in the weeks since a global settlement resolving opioid litigation was first announced.
Shares of some manufacturers and distributors of opioid drugs decline on Tuesday following reports that a criminal probe has been initiated by federal prosecutors.
Pharmaceutical companies are in trouble over their role in fueling the opioid crisis facing the U.S. What Happened Federal authorities have launched a criminal investigation against the companies — using ...
Shares of the companies embroiled in opioid litigation fell in afternoon trading afterThe Wall Street Journal reported the federal government had opened a criminal investigation into some opioid makers and distributors, citing sources. Six companies have disclosed in regulatory filings that they have received grand-jury subpoenas from the U.S. attorney's office in the Eastern District of New York, according to the report. Teva Pharmaceutical Industries Ltd. is down 8%, Mallinckrodt 5%, Amneal Pharmaceuticals Inc. 10%, and Johnson & Johnson 1%. Shares of cited wholesale drug distributors also declined, AmerisourceBergen by 3% and McKesson by 5%. In addition, shares of companies facing opioid litigation but not cited in the Journal story also dropped, with Endo International down 9% and Cardinal Health 4%. In recent weeks, the stocks of these companies have rallied as investors took the view that the possibility of global settlement that would resolve all pending and future litigation was a positive.
Amneal Pharmaceuticals, Inc. (NYSE: AMRX) today announced that management will participate in a fireside chat at the Piper Jaffray 31st Annual Healthcare Conference in New York on Tuesday, December 3, 2019 at 10:00 a.m. Eastern Time.
The number of pharmaceutical and biotechnology companies seeking Chapter 11 protection has nearly tripled the 10-year average in 2019 and is expected to continue to rise Continue reading...