Amneal Pharmaceuticals (NASDAQ:AMRX) Price Target Raised to $11.00

Amneal Pharmaceuticals (NASDAQ:AMRX) had its target price lifted by Barclays from $10.00 to $11.00 in a research note published on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other research analysts also recently issued research reports about the company. Piper Sandler increased their price target on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and increased their price target for the company from $9.00 to $12.00 in a research note 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 analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $10.80.

Amneal Pharmaceuticals Stock Performance

Shares of AMRX opened at $8.97 on Monday. The business’s fifty day moving average price is $8.16 and its two-hundred day moving average price is $8.34. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of -13.19 and a beta of 1.10. Amneal Pharmaceuticals has a 52 week low of $5.18 and a 52 week high of $9.48.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its quarterly earnings results on Friday, February 28th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). The company had revenue of $730.52 million during the quarter, compared to analyst estimates of $708.21 million. Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. During the same period last year, the company earned $0.14 EPS. As a group, research analysts forecast that Amneal Pharmaceuticals will post 0.53 EPS for the current year.

Insider Buying and Selling at Amneal Pharmaceuticals

In other Amneal Pharmaceuticals news, Director Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $8.01, for a total value of $501,345.90. Following the sale, the director now owns 1,968,886 shares of the company’s stock, valued at $15,770,776.86. This trade represents a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 240,000 shares of company stock valued at $2,004,000 in the last 90 days. 26.56% of the stock is currently owned by company insiders.

Institutional Trading of Amneal Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Phocas Financial Corp. raised its stake in shares of Amneal Pharmaceuticals by 31.1% in the 4th quarter. Phocas Financial Corp. now owns 1,330,413 shares of the company’s stock valued at $10,537,000 after purchasing an additional 315,223 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Amneal Pharmaceuticals in the 4th quarter valued at about $52,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Amneal Pharmaceuticals by 45.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 318,420 shares of the company’s stock valued at $2,522,000 after acquiring an additional 99,866 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Amneal Pharmaceuticals by 540.5% in the 4th quarter. Squarepoint Ops LLC now owns 124,744 shares of the company’s stock valued at $988,000 after acquiring an additional 105,268 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Amneal Pharmaceuticals by 97.9% in the 4th quarter. ProShare Advisors LLC now owns 59,493 shares of the company’s stock valued at $471,000 after acquiring an additional 29,424 shares in the last quarter. Institutional investors and hedge funds own 31.82% of the company’s stock.

Amneal Pharmaceuticals Company Profile

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.