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Andrew Boyer, Executive Vice President of Amneal Pharmaceuticals, Inc. (NYSE:NASDAQ:AMRX), has sold a substantial portion of his holdings in the company. According to a recent SEC filing, Boyer sold 125,000 shares of Amneal’s Class A common stock. The transaction comes as the company’s stock trades near its 52-week high, having delivered an impressive 65% return over the past year, according to InvestingPro data. The shares were sold at a weighted average price of $8.89, with transactions occurring at prices ranging from $8.70 to $9.00 per share. The total value of the sale amounted to approximately $1.1 million. Following this transaction, Boyer retains ownership of 290,106 shares in the company. With analysts setting price targets between $11-12 and InvestingPro’s Fair Value analysis suggesting the stock is fairly valued, investors seeking deeper insights into insider trading patterns and comprehensive analysis can access the detailed Pro Research Report, available exclusively to subscribers.
In other recent news, Amneal Pharmaceuticals reported its fourth-quarter 2024 financial results, revealing a slight miss on earnings per share (EPS) expectations but surpassing revenue forecasts. The company’s EPS was $0.12, falling short of the anticipated $0.15, while revenue reached $731 million, exceeding the expected $703.74 million. Additionally, Amneal announced the U.S. FDA’s acceptance of its Biologics Licensing Application for two biosimilars of denosumab, with a target action date set for the fourth quarter of 2025. This development is part of Amneal’s strategy to expand its presence in the U.S. biosimilars market. In other company news, Amneal launched a new Parkinson’s drug, Krexant, which has shown promising sales targets. The company has set a revenue guidance range of $3.0 to $3.1 billion for 2025, indicating a growth rate of 7-11%. Furthermore, Amneal has been recognized with credit upgrades from S&P and Moody’s, reflecting its improved financial profile. The firm continues to focus on reducing its net leverage, aiming to bring it below 3x in the coming years.
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