Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Receives $10.80 Consensus PT from Brokerages

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) has been given a consensus recommendation of “Buy” by the five ratings firms that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have covered the stock in the last year is $10.80.

Several equities analysts have commented on AMRX shares. StockNews.com cut shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $9.00 to $12.00 in a research report on Monday, February 24th. Finally, Barclays upped their price objective on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Monday, March 3rd.

Amneal Pharmaceuticals Trading Up 1.2 %

Shares of Amneal Pharmaceuticals stock opened at $8.38 on Tuesday. The company has a market capitalization of $2.60 billion, a P/E ratio of -12.32 and a beta of 1.05. The stock has a fifty day simple moving average of $8.42 and a 200 day simple moving average of $8.37. Amneal Pharmaceuticals has a 12-month low of $5.18 and a 12-month high of $9.48.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its earnings results on Friday, February 28th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.03). Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. The firm had revenue of $730.52 million during the quarter, compared to analysts’ expectations of $708.21 million. During the same quarter in the prior year, the company earned $0.14 EPS. On average, analysts predict that Amneal Pharmaceuticals will post 0.53 EPS for the current year.

Insider Buying and Selling at Amneal Pharmaceuticals

In related news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $8.35, for a total value of $41,750,000.00. Following the completion of the transaction, the insider now directly owns 48,578,209 shares of the company’s stock, valued at approximately $405,628,045.15. This trade represents a 9.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $8.01, for a total transaction of $501,345.90. Following the completion of the transaction, the director now owns 1,968,886 shares of the company’s stock, valued at $15,770,776.86. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,240,000 shares of company stock valued at $43,754,000. Company insiders own 26.56% of the company’s stock.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of large investors have recently made changes to their positions in AMRX. GF Fund Management CO. LTD. bought a new stake in shares of Amneal Pharmaceuticals during the 4th quarter valued at $52,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Amneal Pharmaceuticals during the fourth quarter valued at about $81,000. Quest Partners LLC purchased a new stake in shares of Amneal Pharmaceuticals in the third quarter worth about $84,000. Straightline Group LLC bought a new position in shares of Amneal Pharmaceuticals in the fourth quarter valued at approximately $92,000. Finally, Brevan Howard Capital Management LP purchased a new position in Amneal Pharmaceuticals during the fourth quarter valued at approximately $107,000. 31.82% of the stock is owned by 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.