Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Receives Consensus Rating of “Buy” from Brokerages

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) have earned a consensus rating of “Buy” from the five analysts that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have covered the stock in the last year is $10.80.

Several research firms have issued reports on AMRX. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $9.00 to $12.00 in a research report on Monday, February 24th. Piper Sandler increased their price objective on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. StockNews.com cut Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Finally, Barclays increased their target price on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Monday.

Insider Buying and Selling

In related news, Director Gautam Patel sold 80,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $8.90, for a total value of $712,000.00. Following the sale, the director now directly owns 1,808,886 shares of the company’s stock, valued at $16,099,085.40. This trade represents a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 240,000 shares of company stock valued at $2,004,000 over the last ninety days. 26.56% of the stock is owned by insiders.

Institutional Trading of Amneal Pharmaceuticals

Large investors have recently modified their holdings of the business. Gladius Capital Management LP bought a new stake in shares of Amneal Pharmaceuticals in the third quarter worth about $37,000. GF Fund Management CO. LTD. bought a new stake in shares of Amneal Pharmaceuticals in the fourth quarter worth about $52,000. Quest Partners LLC bought a new stake in shares of Amneal Pharmaceuticals in the third quarter worth about $84,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Amneal Pharmaceuticals in the fourth quarter worth about $81,000. Finally, Straightline Group LLC purchased a new stake in Amneal Pharmaceuticals in the fourth quarter worth about $92,000. 31.82% of the stock is owned by institutional investors.

Amneal Pharmaceuticals Stock Down 2.3 %

Shares of NASDAQ AMRX opened at $8.76 on Friday. Amneal Pharmaceuticals has a twelve month low of $5.18 and a twelve month high of $9.48. The stock’s 50 day moving average price is $8.18 and its 200-day moving average price is $8.34. The company has a market capitalization of $2.71 billion, a PE ratio of -12.88 and a beta of 1.10.

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

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.