Albany Molecular Research Inc. (AMRI) Sees Large Volume Increase
Shares of Albany Molecular Research Inc. (NASDAQ:AMRI) saw unusually-strong trading volume on Wednesday . Approximately 582,217 shares traded hands during trading, an increase of 76% from the previous session’s volume of 329,961 shares.The stock last traded at $15.07 and had previously closed at $15.01.
Separately, Morgan Stanley restated a “buy” rating and set a $17.00 price target on shares of Albany Molecular Research in a report on Friday, August 5th.
The stock’s market capitalization is $504.12 million. The stock has a 50-day moving average of $14.46 and a 200-day moving average of $14.68.
Albany Molecular Research (NASDAQ:AMRI) last posted its earnings results on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.04. The company had revenue of $116.50 million for the quarter, compared to analysts’ expectations of $123.10 million. Equities research analysts forecast that Albany Molecular Research Inc. will post $1.09 earnings per share for the current year.
In other news, Director Kevin Oconnor sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $14.41, for a total transaction of $72,050.00. Following the completion of the transaction, the director now owns 52,955 shares of the company’s stock, valued at $763,081.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Albany Molecular Research, Inc is a global contract research and manufacturing company. The Company provides drug discovery, development, and manufacturing services. The Company operates through three segments: Discovery and Development Services (DDS), Active Pharmaceutical Ingredients (API) and Drug Product Manufacturing (DPM).
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