The stock of Amneal Pharmaceuticals, Inc. (NYSE:AMRX) is now priced at $4.11 and the shares are 0.08 points up or 1.99% higher compared to its previous closing price of $4.03. The stock had 1.051 million contracts set over the past session. AMRX shares’ daily volume is compared to its average trading volume at 1.352 million shares. However, it has a float of 116 million and although its performance was 3.27% over the week, it’s one to watch. Analysts have given the AMRX stock a yearly average price target of $4.25 per share. It means the stock’s upside potential is 3.41% with the AMRX share price recently placing at $3.99 to $4.14. However, some brokerage firms have priced the stock below the average, including one that has called $3.
The shorts are running away from the Amneal Pharmaceuticals, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the AMRX shares have declined. Short interest in the stock represents just 5.97% of its float, but the volume has dropped by 0.
In the last trading session, Amneal Pharmaceuticals, Inc. (NYSE:AMRX) raised by $0.13 over the week and lost -$0.6 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $5.79. The stock recorded its established 52-week high on 12/16/19.
Since 03/17/20, the stock has traded to a low of $2.4 at 74.15%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.38. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Amneal Pharmaceuticals, Inc.’s two-week RSI is 45.22. This suggests that the stock is neutral at the moment and that AMRX shares’ price movement remains stable. The stochastic readings are equally revealing at 29.88% meaning the AMRX share price is currently in overbought territory.
The technical chart shows that the AMRX stock will likely settle at between $4.17 and $4.23 per share. However, if the stock dips below $4.02, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $3.93.
Currently, the stock is trading in the red of MACD, with a reading of -0.03. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned AMRX a rating of Sell in their intiating review released on July 27. Guggenheim analysts upgraded their recommendation of the stock from Sell to Neutral in a flash note released to investors on May 12. Raymond James seeing the stock struggling downgraded it from Outperform to Mkt Perform on December 12.
The average rating for the AMRX equity is 2.75 and is currently gathering a bullish momentum. Of 12 analysts tracking Amneal Pharmaceuticals, Inc. polled by Reuters, 8 rated AMRX as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 2 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the AMRX stock price is 5.96X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Amneal Pharmaceuticals, Inc. (NYSE:AMRX) will decrease by about -99.9%, which will see them reach $478 million. The company’s full-year revenues are, however, expected to increase by about 18.4%, up from $1630 million to $1930 million. AMRX’s expected adjusted earnings should surge almost 175% to end up at $0.11 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 65.71% to record $0.58/share.