BUZZ-Amneal Pharma rises; J.P.Morgan upgrades stock, raises PT

Reuters

02-24

BUZZ-Amneal Pharma rises; J.P.Morgan upgrades stock, raises PT

** U.S. drug developer Amneal Pharmaceuticals AMRX.O rises 4.09% to $8.15 in premarket trading

** J.P.Morgan upgrades to "overweight" from "neutral"; lifts PT from $9 to $12, ~42% upside to last close of $7.83

** Says co well-positioned for sustainable high single-digit growth, driven by strong portfolio of complex generics and biosimilars

** Expects AMRX to outperform peers significantly on successful launch of Crexont, used to treat Parkinson's disease, and AvKARE's (co's independent subsidiary) impressive growth

** Stock rated "buy" on avg; median PT is $11 - LSEG

** AMRX down 1.13% so far this year, as of Friday's close

(Reporting by Rashika Singh in Bengaluru)

((rashika.singh@thomsonreuters.com))

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