Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Given Average Recommendation of “Buy” by Analysts

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) have received an average rating of “Buy” from the four analysts that are currently covering the company, MarketBeat Ratings reports. Four research 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 $8.50.

Several research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Amneal Pharmaceuticals from $6.25 to $8.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Truist Financial boosted their target price on Amneal Pharmaceuticals from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday.

Amneal Pharmaceuticals Stock Down 2.9 %

AMRX traded down $0.22 during mid-day trading on Monday, reaching $7.43. 446,928 shares of the stock were exchanged, compared to its average volume of 1,497,987. Amneal Pharmaceuticals has a 1 year low of $3.36 and a 1 year high of $8.15. The company has a debt-to-equity ratio of 121.31, a quick ratio of 0.97 and a current ratio of 1.65. The stock has a market capitalization of $2.29 billion, a PE ratio of -12.88 and a beta of 1.23. The company has a 50 day moving average price of $6.97 and a two-hundred day moving average price of $6.30.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System bought a new stake in shares of Amneal Pharmaceuticals in the fourth quarter valued at $183,000. Phocas Financial Corp. bought a new stake in Amneal Pharmaceuticals in the 4th quarter valued at about $4,339,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Amneal Pharmaceuticals during the fourth quarter valued at about $187,000. New York State Common Retirement Fund boosted its position in Amneal Pharmaceuticals by 149.1% during the fourth quarter. New York State Common Retirement Fund now owns 122,003 shares of the company’s stock worth $741,000 after purchasing an additional 73,020 shares during the period. Finally, Truist Financial Corp purchased a new position in shares of Amneal Pharmaceuticals in the fourth quarter worth about $395,000. 31.82% of the stock is currently owned by hedge funds and other 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.