Amneal Pharmaceuticals (NASDAQ:AMRX) Stock Rating Reaffirmed by Truist Financial

Amneal Pharmaceuticals (NASDAQ:AMRX)‘s stock had its “buy” rating reissued by equities researchers at Truist Financial in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $9.00 price target on the stock, up from their previous price target of $7.00. Truist Financial’s price target points to a potential upside of 33.14% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Barclays boosted their price objective on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. The Goldman Sachs Group lifted their price objective on shares of Amneal Pharmaceuticals from $5.50 to $6.25 and gave the stock a “buy” rating in a research note on Monday, March 4th. Piper Sandler upped their target price on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Finally, StockNews.com lowered shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 4th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Amneal Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $7.81.

Amneal Pharmaceuticals Stock Performance

Shares of NASDAQ AMRX opened at $6.76 on Monday. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -12.07 and a beta of 1.33. The company has a debt-to-equity ratio of 121.31, a quick ratio of 0.97 and a current ratio of 1.65. The business’s 50-day simple moving average is $5.76 and its 200-day simple moving average is $5.29. Amneal Pharmaceuticals has a 52 week low of $1.74 and a 52 week high of $6.90.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its quarterly earnings data on Friday, March 1st. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. Amneal Pharmaceuticals had a positive return on equity of 234.06% and a negative net margin of 6.76%. The company had revenue of $616.98 million during the quarter, compared to the consensus estimate of $630.67 million. As a group, equities research analysts expect that Amneal Pharmaceuticals will post 0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Aigen Investment Management LP purchased a new stake in Amneal Pharmaceuticals during the 3rd quarter worth about $118,000. Assenagon Asset Management S.A. raised its holdings in shares of Amneal Pharmaceuticals by 122.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 515,233 shares of the company’s stock valued at $2,174,000 after acquiring an additional 283,524 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Amneal Pharmaceuticals by 27.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 492,304 shares of the company’s stock valued at $2,078,000 after acquiring an additional 107,090 shares in the last quarter. Caxton Associates LP purchased a new stake in shares of Amneal Pharmaceuticals in the 3rd quarter valued at about $508,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Amneal Pharmaceuticals in the 3rd quarter valued at about $160,000. Institutional investors own 31.82% of the company’s stock.

Amneal Pharmaceuticals Company Profile

Amneal Pharmaceuticals, Inc, together with its subsidiaries, develops, manufactures, markets, and distributes generics, injectables, biosimilars, and specialty branded pharmaceutical products worldwide. The company operates through three segments: Generics, Specialty, and AvKARE. The Generics segment offers immediate and extended release oral solid, powder, liquid, sterile injectable, nasal spray, inhalation and respiratory, biosimilar, ophthalmic, film, transdermal patch, and topical products.