Amneal Pharmaceuticals (NASDAQ:AMRX) Cut to Buy at StockNews.com

StockNews.com lowered shares of Amneal Pharmaceuticals (NASDAQ:AMRXFree Report) from a strong-buy rating to a buy rating in a research report report published on Thursday.

A number of other equities research analysts have also issued reports on the stock. Piper Sandler increased their price objective on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Monday, November 11th. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price target on the stock in a report on Friday, September 6th. Finally, Truist Financial increased their price objective on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.00.

Get Our Latest Report on Amneal Pharmaceuticals

Amneal Pharmaceuticals Price Performance

Shares of NASDAQ:AMRX opened at $7.78 on Thursday. The company has a market capitalization of $2.41 billion, a P/E ratio of -11.44 and a beta of 1.12. Amneal Pharmaceuticals has a 1-year low of $5.01 and a 1-year high of $9.48. The firm’s 50 day simple moving average is $8.42 and its two-hundred day simple moving average is $7.94.

Insiders Place Their Bets

In other news, SVP Jason B. Daly sold 43,657 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $8.61, for a total value of $375,886.77. Following the completion of the sale, the senior vice president now owns 13,665 shares in the company, valued at approximately $117,655.65. This trade represents a 76.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.56% of the stock is currently owned by insiders.

Institutional Trading of Amneal Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its stake in shares of Amneal Pharmaceuticals by 3,279.8% during the second quarter. Nisa Investment Advisors LLC now owns 228,917 shares of the company’s stock valued at $1,454,000 after buying an additional 222,144 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Amneal Pharmaceuticals by 20.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 751,403 shares of the company’s stock valued at $4,771,000 after acquiring an additional 128,772 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Amneal Pharmaceuticals by 13.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,952 shares of the company’s stock valued at $222,000 after acquiring an additional 4,115 shares during the last quarter. Rothschild Investment LLC purchased a new stake in Amneal Pharmaceuticals in the second quarter worth $26,000. Finally, nVerses Capital LLC bought a new stake in Amneal Pharmaceuticals during the 2nd quarter valued at about $62,000. 31.82% of the stock is owned by hedge funds and other institutional investors.

About Amneal Pharmaceuticals

(Get Free Report)

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.

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Analyst Recommendations for Amneal Pharmaceuticals (NASDAQ:AMRX)

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