Amneal Pharmaceuticals' Shares Rise After JPMorgan Upgrade

MT Newswires Live

02-25

Amneal Pharmaceuticals' (AMRX) shares rose nearly 10% in recent Monday trading after JPMorgan upgraded the stock to overweight from neutral and adjusted its price target to $12 from $9.

The drugmaker said last week that it is set to launch mesalamine 800-milligram delayed-release tablets to treat moderately active ulcerative colitis in adults. The company added it had received approval from the US Food and Drug Administration for an abbreviated new drug application for lenalidomide capsules, which are used to treat blood cancers.

Trading volume stood at about 2.4 million shares against a daily average of more than 1.1 million shares.

Price: 8.60, Change: +0.77, Percent Change: +9.77

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