Amneal Pharmaceuticals (NASDAQ:AMRX) Trading Up 3.6% – Time to Buy?

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)’s share price was up 3.6% during mid-day trading on Monday . The company traded as high as $8.33 and last traded at $8.58. Approximately 90,937 shares traded hands during trading, a decline of 93% from the average daily volume of 1,366,759 shares. The stock had previously closed at $8.28.

Analyst Ratings Changes

Several research firms recently issued reports on AMRX. Barclays increased their price target on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their price target for the company from $9.00 to $12.00 in a report on Monday, February 24th. Finally, StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $10.80.

Amneal Pharmaceuticals Price Performance

The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of -12.35 and a beta of 1.05. The firm’s 50-day moving average price is $8.42 and its 200 day moving average price is $8.37.

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 the consensus estimate of $0.15 by ($0.03). Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. The firm had revenue of $730.52 million during the quarter, compared to analyst estimates of $708.21 million. During the same period in the previous year, the firm posted $0.14 EPS. On average, analysts predict that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current fiscal year.

Insider Activity at Amneal Pharmaceuticals

In other Amneal Pharmaceuticals news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.35, for a total value of $41,750,000.00. Following the transaction, the insider now directly owns 48,578,209 shares of the company’s stock, valued at $405,628,045.15. This represents a 9.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gautam Patel sold 80,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $8.90, for a total transaction of $712,000.00. Following the transaction, the director now owns 1,808,886 shares in the company, valued at $16,099,085.40. This trade represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,240,000 shares of company stock worth $43,754,000. 26.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Intech Investment Management LLC bought a new position in Amneal Pharmaceuticals in the third quarter worth about $307,000. Charles Schwab Investment Management Inc. boosted its position in Amneal Pharmaceuticals by 16.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,404,883 shares of the company’s stock valued at $11,689,000 after purchasing an additional 202,863 shares during the period. Quantbot Technologies LP grew its stake in Amneal Pharmaceuticals by 274.8% during the 3rd quarter. Quantbot Technologies LP now owns 111,181 shares of the company’s stock worth $925,000 after buying an additional 81,519 shares during the last quarter. FMR LLC increased its position in Amneal Pharmaceuticals by 25.9% in the third quarter. FMR LLC now owns 203,510 shares of the company’s stock worth $1,693,000 after buying an additional 41,882 shares during the period. Finally, Walleye Capital LLC bought a new stake in Amneal Pharmaceuticals in the third quarter valued at $1,095,000. Institutional investors and hedge funds own 31.82% of the company’s stock.

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.