J.P. Morgan analyst Chris Schott has maintained their bullish stance on AMRX stock, giving a Buy rating yesterday.
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Chris Schott has given his Buy rating due to a combination of factors that position Amneal Pharmaceuticals for significant growth. The company is experiencing strong momentum with its Crexont product, which is outperforming expectations in market uptake and coverage. Additionally, Amneal is actively refreshing its generics portfolio with new product launches, and its AvKARE division is expected to maintain double-digit growth, contributing to high single-digit revenue growth and over 20% EPS growth in the coming years.
Moreover, the delay in generic competition for Rytary provides a temporary advantage, potentially boosting results into 2025 and 2026. The potential impact of the Pfizer-Metsera transaction could also be beneficial, as Amneal is expected to be compensated if Pfizer decides to handle manufacturing and commercialization independently. Despite the stock’s recent rally, Schott sees the valuation as justified given the company’s growth prospects and the successful launch of Crexont, making it an attractive investment opportunity.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AMRX in relation to earlier this year.