Albany Molecular bought by private firms for $922M
- Author: Zachary Reyes Jun 07, 2017,
Jun 07, 2017, 13:33
Albany Molecular Research, Inc. engages in research and manufacturing organization providing customers drug discovery, development, and manufacturing services. The current share price indicate that stock is -75.85% away from its one year high and is moving 8.02% ahead of its 52-week low. Volume on the day was 1.58 million shares. Beutel Goodman & Co Ltd sold 779,703 shares as Royal Bank Cda (RY)'s stock declined 9.02%. Ameriprise owns 0% invested in Albany Molecular Research, Inc. Sii Investments Inc. WI increased its stake in Albany Molecular Research by 2.2% in the first quarter.
Shares of the Albany, New York-headquartered company, which had already risen close to 50 percent since speculation about the deal broke, shot up about 9 percent to $21.52 in afternoon trading on Tuesday.
More recent Albany Molecular Research, Inc. Finally, Thrivent Financial for Lutherans increased its stake in Albany Molecular Research by 4.8% in the fourth quarter. Renaissance Technologies LLC now owns 357,900 shares of the biotechnology company's stock worth $6,714,000 after buying an additional 10,658 shares during the last quarter. Arizona State Retirement System stated it has 0% in Albany Molecular Research, Inc. (AMRI) opened at 20.17 on Monday. For the current year the company's revenue estimates are $722.22 Million compared to low analyst estimates of $720 Million and high estimates of $726.44 Million according to 4 number of analysts.
Salesforce.com, inc. (NYSE:CRM) announced the Salesforce Data Management Platform (DMP) was named a leader by Forrester Research in its report The Forrester Wave™: Data Management Platforms, Q2 2017. If Albany Molecular Research, Inc. They expect $0.05 EPS, down 50.00% or $0.05 from last year's $0.1 per share.
Wall Street analysts are predicting that Albany Molecular Res (NASDAQ:AMRI) will report earnings per share of $0.29 in their quarterly report.
COPYRIGHT VIOLATION WARNING: This article was first reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States & worldwide copyright legislation. "Carlyle and GTCR believe in the potential of AMRI's business and have a track record of supporting companies with the capital resources required to maximize growth opportunities". Morgan Stanley downgraded Albany Molecular Research from an "overweight" rating to an "equal weight" rating and set a $18.00 price objective for the company.in a research note on Thursday, May 11th.
Under the deal, the affiliates of Carlyle and GTCR will acquire AMRI by paying 21.75 per share in cash, representing a 42% premium to the closing stock price on 5 April. The analysts noted that the move was a valuation call.
On the other hand the company has Relative Strength Index (RSI 14) of 70.49 along with Average True Range (ATR 14) of 1.07, Consequently Albany Molecular Res (NASDAQ:AMRI)'s weekly and monthly volatility is 7.97%, 5.75% respectively. The Firm operates through Discovery and Development Services, Active Pharmaceutical Ingredients (API), Drug Product (DP) and Fine Chemicals (FC) divisions.