Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Receives $10.00 Average Price Target from Analysts

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) has been given a consensus recommendation of “Moderate Buy” by the five analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $10.00.

AMRX has been the topic of a number of recent research reports. StockNews.com lowered Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Piper Sandler upped their price objective on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Finally, Truist Financial lifted their price objective on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd.

Insider Buying and Selling

In other news, SVP Jason B. Daly sold 43,657 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $8.61, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gautam Patel sold 62,590 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $8.01, for a total transaction of $501,345.90. Following the completion of the sale, the director now directly owns 1,968,886 shares in the company, 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 have sold 123,657 shares of company stock worth $1,016,687. 26.56% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AMRX. Barclays PLC increased its stake in Amneal Pharmaceuticals by 134.1% during the third quarter. Barclays PLC now owns 296,384 shares of the company’s stock worth $2,466,000 after acquiring an additional 169,756 shares during the last quarter. JPMorgan Chase & Co. increased its position in Amneal Pharmaceuticals by 149.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company’s stock worth $10,792,000 after purchasing an additional 777,568 shares in the last quarter. State Street Corp raised its holdings in Amneal Pharmaceuticals by 3.8% in the third quarter. State Street Corp now owns 3,514,721 shares of the company’s stock valued at $29,242,000 after buying an additional 127,753 shares during the period. Bank of New York Mellon Corp raised its holdings in Amneal Pharmaceuticals by 20.7% in the second quarter. Bank of New York Mellon Corp now owns 751,403 shares of the company’s stock valued at $4,771,000 after buying an additional 128,772 shares during the period. Finally, Geode Capital Management LLC lifted its position in Amneal Pharmaceuticals by 11.1% during the third quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock valued at $31,511,000 after buying an additional 378,136 shares in the last quarter. 31.82% of the stock is owned by hedge funds and other institutional investors.

Amneal Pharmaceuticals Trading Up 4.7 %

Shares of AMRX opened at $8.22 on Thursday. Amneal Pharmaceuticals has a 12-month low of $5.01 and a 12-month high of $9.48. The stock has a market cap of $2.55 billion, a P/E ratio of -12.09 and a beta of 1.10. The company has a 50-day moving average of $8.20 and a two-hundred day moving average of $8.08.

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.