Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) have been assigned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $9.40.

Several brokerages have recently commented on AMRX. Truist Financial raised their target price on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price target for the company in a research report on Friday, September 6th. Finally, Barclays lifted their price objective on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th.

Amneal Pharmaceuticals Trading Up 0.2 %

Shares of Amneal Pharmaceuticals stock opened at $8.49 on Friday. The business’s 50 day simple moving average is $8.54 and its 200-day simple moving average is $7.43. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of -13.69 and a beta of 1.18. Amneal Pharmaceuticals has a twelve month low of $3.91 and a twelve month high of $8.95.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its quarterly earnings data on Friday, August 9th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Amneal Pharmaceuticals had a positive return on equity of 1,235.03% and a negative net margin of 6.72%. The business had revenue of $701.78 million during the quarter, compared to analyst estimates of $657.43 million. Sell-side analysts predict that Amneal Pharmaceuticals will post 0.52 earnings per share for the current year.

Institutional Investors Weigh In On Amneal Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in AMRX. Hennessy Advisors Inc. bought a new stake in shares of Amneal Pharmaceuticals during the 2nd quarter worth $8,818,000. Rubric Capital Management LP grew its stake in Amneal Pharmaceuticals by 12.4% during the second quarter. Rubric Capital Management LP now owns 10,721,778 shares of the company’s stock worth $68,083,000 after purchasing an additional 1,179,830 shares during the period. Acadian Asset Management LLC grew its stake in Amneal Pharmaceuticals by 701.8% in the second quarter. Acadian Asset Management LLC now owns 811,853 shares of the company’s stock valued at $5,148,000 after acquiring an additional 710,598 shares during the period. Assenagon Asset Management S.A. grew its stake in Amneal Pharmaceuticals by 114.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,204,994 shares of the company’s stock valued at $10,026,000 after acquiring an additional 642,065 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Amneal Pharmaceuticals by 17.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company’s stock valued at $27,205,000 after purchasing an additional 641,405 shares in the last quarter. Institutional investors own 31.82% of the company’s stock.

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.