Amneal Pharma (AMRX)
NASDAQ:AMRX
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Amneal Pharmaceuticals
(NASDAQ:AMRX)
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Rating:60Neutral
Price Target:
$14.00
▲(0.65% Upside)
Action:Reiterated
Date:05/10/26
The score is held back primarily by balance-sheet risk (high debt and negative equity) despite improving revenue, margins, and positive free cash flow. Offsetting factors include constructive (but not strong) technical momentum, a reasonable P/E, and an earnings call that guided to further margin/EPS expansion while acknowledging execution and segment headwinds.
Positive Factors
Biosimilars & GLP-1 strategic push
Amneal’s push into biosimilars and GLP‑1 manufacturing represents a structural move up‑market from commodity generics. Approvals and a multi‑year target for six U.S. biosimilars plus a Pfizer collaboration expand addressable markets, increase entry barriers, and create higher‑margin, longer‑duration revenue streams.
Negative Factors
High leverage and negative equity
Material leverage and a negative equity position weaken financial flexibility and amplify refinancing and downturn risk. Even with improving cash flow, high absolute debt levels constrain capital allocation, raise interest‑coverage sensitivity, and limit ability to absorb execution delays without additional financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Biosimilars & GLP-1 strategic push
Amneal’s push into biosimilars and GLP‑1 manufacturing represents a structural move up‑market from commodity generics. Approvals and a multi‑year target for six U.S. biosimilars plus a Pfizer collaboration expand addressable markets, increase entry barriers, and create higher‑margin, longer‑duration revenue streams.
Read all positive factors
Amneal Pharmaceuticals (AMRX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.90B
Dividend YieldN/A
Average Volume (3M)1.57M
Price to Earnings (P/E)16.4
Beta (1Y)0.88
Revenue Growth7.62%
EPS GrowthN/A
CountryUS
Employees8,300
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)0.38
Shares Outstanding319,022,800
10 Day Avg. Volume1,496,489
30 Day Avg. Volume1,567,547
Financial Highlights & Ratios
PEG Ratio-0.34
Price to Book (P/B)-55.77
Price to Sales (P/S)1.31
P/FCF Ratio14.63
Enterprise Value/Market Cap1.64
Enterprise Value/Revenue2.10
Enterprise Value/Gross Profit5.43
Enterprise Value/Ebitda10.21
Forecast
1Y Price Target
$17.50Price Target Upside25.81% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.99
Revenue Forecast (FY)$3.09B
Amneal Pharmaceuticals Business Overview & Revenue Model
Company Description
Amneal Pharmaceuticals, Inc., together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic and specialty pharmaceutical products for various dosage forms and therapeutic areas. The company operates through thr...
How the Company Makes Money
Amneal makes money primarily by selling pharmaceutical products to wholesalers, pharmacies, hospitals, distributors, and other healthcare-channel customers. Its core revenue stream is the sale of generic prescription drugs: it develops or in-licen...
Amneal Pharmaceuticals Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call highlighted a decisive strategic move — the Kashiv acquisition — that meaningfully expands Amneal's addressable market, vertical capabilities, and long‑term growth runway in biosimilars. Q1 results showed strong top‑ and bottom‑line execution (revenues +4%, adjusted EBITDA +19%, adjusted EPS +29%), margin expansion, specialty product momentum, and improving leverage. Near‑term challenges include transaction‑related cash/financing impacts, modest near‑term dilution and guidance cadence (some 2027 EBITDA conservatism), integration and execution risk inherent to complex biologics development, and required CapEx to scale capacity. On balance, the positives around scale, pipeline, synergies ($400M–$500M), and improved long‑term financial trajectory outweigh the short‑term costs and execution risks.Positive Updates
Strategic Acquisition Creating a Global Biosimilars Platform
Amneal announced agreement to acquire Kashiv BioSciences (upfront consideration $750M: 50% cash / 50% equity, ~8% dilution; up to $350M in milestone payments and potential royalties), creating a vertically integrated biosimilars leader with a combined pipeline of 20+ biosimilar programs and access to what management cited as more than $300M of biologic LOE opportunity over the next decade and a broader $100B+ U.S. opportunity across the portfolio.
Negative Updates
Near-Term Leverage Increase and Transaction Costs
Acquisition funding (cash + some additional debt) is expected to slightly increase net leverage to ~3.7x by end‑2026 (from 3.5x at end‑2025) and will create near‑term transaction and integration cash flow impacts before deleveraging resumes in 2027 and reaches below 3x by 2028.
Read all updates
Q1-2026 Updates
Positive
Negative
Strategic Acquisition Creating a Global Biosimilars Platform
Amneal announced agreement to acquire Kashiv BioSciences (upfront consideration $750M: 50% cash / 50% equity, ~8% dilution; up to $350M in milestone payments and potential royalties), creating a vertically integrated biosimilars leader with a combined pipeline of 20+ biosimilar programs and access to what management cited as more than $300M of biologic LOE opportunity over the next decade and a broader $100B+ U.S. opportunity across the portfolio.
Read all positive updates
Company Guidance
Amneal raised its stand‑alone 2026 outlook after reporting preliminary Q1 results showing total net revenue $723M (+4%), Affordable Medicines $423M (+2%) with segment gross margin 47.3% (+320 bps YoY), Specialty $133M (+23%) (CREXONT $21M; Brekiya $4.6M vs $1.6M in Q4’25), AvKARE $166M (‑4%) with AvKARE gross margin +690 bps YoY, Q1 adjusted EBITDA $202M (+19%) and adjusted EPS $0.27 (+29%); company gross margin was 42.9% in 2025 and management expects ~45% in 2026 (targeting mid‑ to high‑40s over time). The proposed Kashiv acquisition carries $750M upfront (50/50 cash/equity; ~ $29M stock ≈8% dilution), up to $350M of milestones, expected cumulative synergies of $400–500M, and combined net leverage ~3.7x adjusted EBITDA at end‑2026 (vs 3.5x end‑2025; March 2026 net leverage 3.5x vs 3.9x Mar‑2025) with deleveraging to below 3x by 2028; drug‑substance capacity is planned to scale from 26,000L in 2026 to 75,000L by 2028 with ~$30–50M/year CapEx for 2–3 years, a pipeline of 20+ biosimilar programs (3–5 developments/year), six commercial biosimilars expected by 2027, and combined 2030 targets of roughly $4.3–4.5B revenue (≈+$1.2B or +40% vs 2026), EPS ≈+$0.70 (≈+70% vs 2026) with biosimilars contributing about $1.0–1.3B by 2030; closing expected in a few months pending approvals.Amneal Pharmaceuticals Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
38
Negative
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.05B | 3.02B | 2.79B | 2.39B | 2.21B | 2.09B |
| Gross Profit | 1.18B | 1.14B | 1.02B | 863.87M | 791.46M | 768.97M |
| EBITDA | 626.02M | 603.87M | 439.77M | 500.78M | 440.21M | 401.10M |
| Net Income | 122.36M | 72.06M | -116.89M | -83.99M | -129.99M | 10.62M |
Balance Sheet | ||||||
| Total Assets | 3.54B | 3.68B | 3.50B | 3.47B | 3.80B | 3.94B |
| Cash, Cash Equivalents and Short-Term Investments | 197.66M | 310.87M | 112.42M | 93.74M | 27.80M | 247.79M |
| Total Debt | 2.69B | 2.74B | 2.59B | 2.75B | 2.85B | 2.88B |
| Total Liabilities | 3.50B | 3.67B | 3.55B | 3.41B | 3.59B | 3.57B |
| Stockholders Equity | -45.41M | -70.79M | -109.27M | 19.78M | 298.42M | 360.34M |
Cash Flow | ||||||
| Free Cash Flow | 205.28M | 269.93M | 220.11M | 276.39M | -25.50M | 194.09M |
| Operating Cash Flow | 303.86M | 339.99M | 295.10M | 345.58M | 65.10M | 241.82M |
| Investing Cash Flow | -116.17M | -112.26M | -63.00M | -69.19M | -174.31M | -194.18M |
| Financing Cash Flow | -49.44M | -31.53M | -211.79M | -212.57M | -106.62M | -138.12M |
Amneal Pharmaceuticals Technical Analysis
Neutral
13.91
Price Trends
12.58
Negative
13.17
Negative
11.88
Positive
Market Momentum
-0.22
Positive
43.00
Neutral
9.37
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMRX, the sentiment is Neutral. The current price of 13.91 is above the 20-day moving average (MA) of 12.70, above the 50-day MA of 12.58, and above the 200-day MA of 11.88, indicating a neutral trend. The MACD of -0.22 indicates Positive momentum. The RSI at 43.00 is Neutral, neither overbought nor oversold. The STOCH value of 9.37 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AMRX.
Amneal Pharmaceuticals Risk Analysis
Amneal Pharmaceuticals disclosed 58 risk factors in its most recent earnings report. Amneal Pharmaceuticals reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Amneal Pharmaceuticals Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $1.87B | 13.63 | 17.32% | ― | 37.03% | ― | |
64 Neutral | $797.20M | 34.57 | 10.23% | ― | -1.39% | -41.70% | |
63 Neutral | $2.83B | -324.88 | -2.73% | ― | 16.29% | -145.12% | |
60 Neutral | $3.90B | 16.36 | -144.72% | ― | 7.62% | ― | |
52 Neutral | $1.54B | -0.83 | -50.65% | 8.48% | -3.62% | -932.84% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
45 Neutral | $1.03B | -3.30 | -11.92% | ― | -4.47% | -178.26% |
* Healthcare Sector Average
AMRX
Amneal Pharmaceuticals
12.23
4.96
68.23%
PRGO
Perrigo Company
11.16
-14.00
-55.65%
SUPN
Supernus Pharmaceuticals
48.69
16.06
49.22%
ANIP
ANI Pharmaceuticals
82.00
22.92
38.79%
AMPH
Amphastar Pharmaceuticals
18.08
-6.08
-25.17%
ALVO
Alvotech
3.30
-6.86
-67.52%
Amneal Pharmaceuticals Corporate Events
Executive/Board ChangesShareholder Meetings
Amneal Shareholders Back Board, Pay and Auditor at Meeting
Positive
May 7, 2026
Amneal Pharmaceuticals, Inc. held its 2026 Annual Meeting of Stockholders on May 6, 2026, where shareholders voted on director elections, executive compensation and the company’s auditor. All nominated directors, including Deb Autor, the Pat...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Amneal to Acquire Kashiv, Expanding Biosimilars Platform
Positive
Apr 22, 2026
On April 21, 2026, Amneal agreed to acquire 100% of Kashiv BioSciences for $375 million in cash, $375 million in stock and up to $350 million in milestone payments, plus royalties, in a deal expected to close in the second half of 2026 pending sha...
Business Operations and StrategyFinancial Disclosures
Amneal Posts Strong Q4 Results and Raises 2026 Outlook
Positive
Feb 27, 2026
On February 27, 2026, Amneal reported that fourth-quarter 2025 net revenue rose 11% year over year to $814 million, with GAAP net income swinging to a $35 million profit from a $31 million loss and adjusted EBITDA climbing 13% to $175 million. Spe...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.