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

StockNews.com upgraded shares of Amneal Pharmaceuticals (NASDAQ:AMRX) from a buy rating to a strong-buy rating in a research report report published on Monday morning.

A number of other equities analysts also recently commented on the company. Piper Sandler raised their price objective on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday. Barclays lifted their price target on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 target price 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 stock a “buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amneal Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $10.00.

Amneal Pharmaceuticals Price Performance

Shares of AMRX stock opened at $9.20 on Monday. The business’s fifty day moving average price is $8.53 and its 200 day moving average price is $7.56. Amneal Pharmaceuticals has a 1-year low of $4.15 and a 1-year high of $9.32. The firm has a market capitalization of $2.85 billion, a PE ratio of -13.53 and a beta of 1.17.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its earnings results on Friday, August 9th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. Amneal Pharmaceuticals had a negative net margin of 6.72% and a positive return on equity of 1,235.03%. The firm had revenue of $701.78 million during the quarter, compared to the consensus estimate of $657.43 million. Equities research analysts expect that Amneal Pharmaceuticals will post 0.52 earnings per share for the current fiscal year.

Institutional Trading of Amneal Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in AMRX. Hennessy Advisors Inc. acquired a new stake in shares of Amneal Pharmaceuticals during the second quarter valued at approximately $8,818,000. Rubric Capital Management LP increased its stake in shares of Amneal Pharmaceuticals by 12.4% in the second quarter. Rubric Capital Management LP now owns 10,721,778 shares of the company’s stock worth $68,083,000 after acquiring an additional 1,179,830 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Amneal Pharmaceuticals by 701.8% during the second quarter. Acadian Asset Management LLC now owns 811,853 shares of the company’s stock worth $5,148,000 after acquiring an additional 710,598 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Amneal Pharmaceuticals by 114.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,204,994 shares of the company’s stock valued at $10,026,000 after purchasing an additional 642,065 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Amneal Pharmaceuticals by 17.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company’s stock valued at $27,205,000 after purchasing an additional 641,405 shares in the last quarter. 31.82% of the stock is currently 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.