Amneal Pharmaceuticals (NASDAQ:AMRX) Rating Increased to Strong-Buy at StockNews.com

Amneal Pharmaceuticals (NASDAQ:AMRX) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Monday.

Several other analysts also recently commented on AMRX. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price objective on the stock in a research report on Friday, September 6th. Barclays raised their price objective on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Piper Sandler raised their price objective on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Truist Financial raised their price objective on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $10.00.

Amneal Pharmaceuticals Stock Performance

Shares of Amneal Pharmaceuticals stock traded up $0.47 on Monday, hitting $9.20. 2,220,320 shares of the company’s stock were exchanged, compared to its average volume of 1,409,931. The company has a 50-day simple moving average of $8.53 and a 200-day simple moving average of $7.56. The stock has a market capitalization of $2.85 billion, a PE ratio of -13.53 and a beta of 1.17. Amneal Pharmaceuticals has a 1 year low of $4.15 and a 1 year high of $9.32.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued 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 business had revenue of $701.78 million for the quarter, compared to analysts’ expectations of $657.43 million. Amneal Pharmaceuticals had a negative net margin of 6.72% and a positive return on equity of 1,235.03%. On average, analysts expect that Amneal Pharmaceuticals will post 0.52 EPS for the current fiscal year.

Institutional Trading of Amneal Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Profund Advisors LLC increased its stake in Amneal Pharmaceuticals by 8.1% in the 2nd quarter. Profund Advisors LLC now owns 22,522 shares of the company’s stock worth $143,000 after acquiring an additional 1,680 shares during the last quarter. ProShare Advisors LLC increased its stake in Amneal Pharmaceuticals by 8.6% in the 1st quarter. ProShare Advisors LLC now owns 21,902 shares of the company’s stock worth $133,000 after acquiring an additional 1,726 shares during the last quarter. SG Americas Securities LLC increased its stake in Amneal Pharmaceuticals by 18.8% in the 1st quarter. SG Americas Securities LLC now owns 20,112 shares of the company’s stock worth $122,000 after acquiring an additional 3,177 shares during the last quarter. Rothschild Investment LLC bought a new stake in Amneal Pharmaceuticals in the 2nd quarter worth approximately $26,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Amneal Pharmaceuticals by 13.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,952 shares of the company’s stock worth $222,000 after acquiring an additional 4,115 shares during the last quarter. 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.