Amneal Pharmaceuticals (NASDAQ:AMRX) Stock Rating Upgraded by JPMorgan Chase & Co.

Amneal Pharmaceuticals (NASDAQ:AMRX) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Monday,Briefing.com Automated Import reports. The firm presently has a $12.00 target price on the stock, up from their previous target price of $9.00. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 53.26% from the stock’s previous close.

AMRX has been the subject of several other reports. StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. Piper Sandler raised their price target on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Amneal Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $10.60.

Amneal Pharmaceuticals Trading Down 0.5 %

Shares of NASDAQ AMRX opened at $7.83 on Monday. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of -11.51 and a beta of 1.10. The company’s 50-day moving average price is $8.04 and its 200 day moving average price is $8.30. Amneal Pharmaceuticals has a 52 week low of $5.01 and a 52 week high of $9.48.

Insider Buying and Selling at Amneal Pharmaceuticals

In related news, Director Gautam Patel sold 62,590 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $8.01, for a total transaction of $501,345.90. Following the completion of the transaction, the director now owns 1,968,886 shares of the company’s stock, valued at approximately $15,770,776.86. This represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 160,000 shares of company stock worth $1,292,000 in the last 90 days. 26.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of hedge funds have recently made changes to their positions in AMRX. Nantahala Capital Management LLC boosted its holdings in Amneal Pharmaceuticals by 37.3% in the fourth quarter. Nantahala Capital Management LLC now owns 3,665,529 shares of the company’s stock valued at $29,031,000 after acquiring an additional 995,586 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Amneal Pharmaceuticals by 149.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company’s stock valued at $10,792,000 after purchasing an additional 777,568 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Amneal Pharmaceuticals by 114.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,204,994 shares of the company’s stock worth $10,026,000 after purchasing an additional 642,065 shares during the period. BlackBarn Capital Partners LP increased its position in Amneal Pharmaceuticals by 18.2% during the 4th quarter. BlackBarn Capital Partners LP now owns 2,850,000 shares of the company’s stock worth $22,572,000 after purchasing an additional 438,388 shares in the last quarter. Finally, Mariner LLC grew its stake in Amneal Pharmaceuticals by 3,749.1% during the fourth quarter. Mariner LLC now owns 424,291 shares of the company’s stock worth $3,360,000 after buying an additional 413,268 shares during the period. 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.