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

StockNews.com lowered shares of Amneal Pharmaceuticals (NASDAQ:AMRX) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday morning.

Several other brokerages have also issued reports on AMRX. Truist Financial lifted their price target on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 target price on the stock in a research report on Friday, September 6th. Finally, Piper Sandler boosted their target price on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Amneal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

Amneal Pharmaceuticals Trading Up 0.8 %

NASDAQ AMRX opened at $7.75 on Thursday. Amneal Pharmaceuticals has a 1 year low of $5.01 and a 1 year high of $9.48. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -11.40 and a beta of 1.12. The firm’s 50 day simple moving average is $8.43 and its 200 day simple moving average is $7.92.

Insider Activity

In other news, SVP Jason B. Daly sold 43,657 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $8.61, for a total value of $375,886.77. Following the completion of the transaction, the senior vice president now owns 13,665 shares of the company’s stock, valued at $117,655.65. This represents a 76.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 26.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in AMRX. Rothschild Investment LLC bought a new position in shares of Amneal Pharmaceuticals during the second quarter valued at $26,000. Gladius Capital Management LP acquired a new stake in Amneal Pharmaceuticals in the third quarter valued at $37,000. DekaBank Deutsche Girozentrale acquired a new stake in Amneal Pharmaceuticals in the second quarter valued at $42,000. nVerses Capital LLC bought a new position in Amneal Pharmaceuticals during the 2nd quarter worth $62,000. Finally, Quest Partners LLC acquired a new position in Amneal Pharmaceuticals during the 3rd quarter worth about $84,000. 31.82% of the stock is currently owned by institutional investors and hedge funds.

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.