Amneal Pharmaceuticals (NASDAQ:AMRX) Upgraded to Neutral by JPMorgan Chase & Co.

Amneal Pharmaceuticals (NASDAQ:AMRX) was upgraded by JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued on Friday, Briefing.com reports. The brokerage presently has a $9.00 price target on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 6.51% from the company’s current price.

AMRX has been the topic of several other reports. Truist Financial increased their price target on Amneal Pharmaceuticals from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Barclays increased their price target on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $9.00.

Amneal Pharmaceuticals Price Performance

NASDAQ AMRX opened at $8.45 on Friday. The company has a debt-to-equity ratio of 121.31, a current ratio of 1.33 and a quick ratio of 0.82. The stock’s fifty day moving average price is $7.55 and its 200 day moving average price is $6.64. Amneal Pharmaceuticals has a 1 year low of $3.36 and a 1 year high of $8.72. The company has a market cap of $2.61 billion, a price-to-earnings ratio of -15.09 and a beta of 1.23.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. The company had revenue of $701.78 million for the quarter, compared to the consensus estimate of $657.43 million. Amneal Pharmaceuticals had a positive return on equity of 1,235.03% and a negative net margin of 6.72%. As a group, equities research analysts forecast that Amneal Pharmaceuticals will post 0.52 earnings per share for the current year.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Rubric Capital Management LP lifted its stake in Amneal Pharmaceuticals by 98.8% in the 4th quarter. Rubric Capital Management LP now owns 8,000,000 shares of the company’s stock valued at $48,560,000 after buying an additional 3,975,500 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in Amneal Pharmaceuticals in the 2nd quarter valued at about $8,818,000. Acadian Asset Management LLC lifted its stake in Amneal Pharmaceuticals by 701.8% in the 2nd quarter. Acadian Asset Management LLC now owns 811,853 shares of the company’s stock valued at $5,148,000 after buying an additional 710,598 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Amneal Pharmaceuticals by 17.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company’s stock valued at $27,205,000 after buying an additional 641,405 shares in the last quarter. Finally, BlackBarn Capital Partners LP lifted its stake in Amneal Pharmaceuticals by 41.5% in the 2nd quarter. BlackBarn Capital Partners LP now owns 2,000,000 shares of the company’s stock valued at $12,700,000 after buying an additional 586,703 shares in the last quarter. 31.82% of the stock is owned by hedge funds and other institutional investors.

About Amneal Pharmaceuticals

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.