Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Given Consensus Rating of “Buy” by Brokerages

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) has been given a consensus rating of “Buy” by the four brokerages that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $8.25.

Several research analysts recently issued reports on the company. Truist Financial reaffirmed a “buy” rating and set a $9.00 target price (up from $7.00) on shares of Amneal Pharmaceuticals in a research report on Monday, May 6th. The Goldman Sachs Group upped their price objective on shares of Amneal Pharmaceuticals from $6.25 to $8.00 and gave the company a “buy” rating in a report on Monday, May 6th.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of AMRX. Rubric Capital Management LP increased its stake in shares of Amneal Pharmaceuticals by 98.8% in the fourth quarter. Rubric Capital Management LP now owns 8,000,000 shares of the company’s stock worth $48,560,000 after acquiring an additional 3,975,500 shares during the period. Phocas Financial Corp. purchased a new position in shares of Amneal Pharmaceuticals during the 4th quarter valued at about $4,339,000. Hillsdale Investment Management Inc. lifted its holdings in shares of Amneal Pharmaceuticals by 1,240.3% in the 4th quarter. Hillsdale Investment Management Inc. now owns 584,619 shares of the company’s stock valued at $3,549,000 after buying an additional 541,000 shares during the period. Vanguard Group Inc. boosted its stake in shares of Amneal Pharmaceuticals by 3.1% in the third quarter. Vanguard Group Inc. now owns 13,548,300 shares of the company’s stock worth $57,174,000 after buying an additional 412,599 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Amneal Pharmaceuticals by 271.7% during the first quarter. Assenagon Asset Management S.A. now owns 546,537 shares of the company’s stock worth $3,312,000 after acquiring an additional 399,492 shares during the period. Institutional investors and hedge funds own 31.82% of the company’s stock.

Amneal Pharmaceuticals Trading Down 1.1 %

Shares of NASDAQ:AMRX opened at $7.24 on Tuesday. The business’s fifty day simple moving average is $6.80 and its 200-day simple moving average is $6.11. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 121.31. Amneal Pharmaceuticals has a 12-month low of $2.99 and a 12-month high of $7.74. The company has a market capitalization of $2.23 billion, a PE ratio of -12.93 and a beta of 1.23.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its earnings results on Friday, May 3rd. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. Amneal Pharmaceuticals had a negative net margin of 6.76% and a positive return on equity of 234.06%. The company had revenue of $659.19 million during the quarter, compared to analysts’ expectations of $623.08 million. As a group, equities research analysts predict that Amneal Pharmaceuticals will post 0.52 earnings per share for the current fiscal year.

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.