Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Receives Consensus Rating of “Buy” from Brokerages

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) have been assigned an average recommendation of “Buy” from the four brokerages that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $9.00.

Several brokerages recently weighed in on AMRX. Barclays increased their target price on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price objective for the company in a research note on Friday. Finally, Truist Financial raised their target price on shares of Amneal Pharmaceuticals from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, August 12th.

Amneal Pharmaceuticals Stock Performance

NASDAQ AMRX opened at $8.45 on Friday. Amneal Pharmaceuticals has a 52-week low of $3.36 and a 52-week high of $8.72. The company has a fifty day moving average of $7.55 and a 200-day moving average of $6.64. The company has a market capitalization of $2.61 billion, a P/E ratio of -15.09 and a beta of 1.23. The company has a debt-to-equity ratio of 121.31, a quick ratio of 0.82 and a current ratio of 1.33.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its quarterly earnings results on Friday, August 9th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. Amneal Pharmaceuticals had a positive return on equity of 1,235.03% and a negative net margin of 6.72%. The firm had revenue of $701.78 million during the quarter, compared to analyst estimates of $657.43 million. As a group, equities research analysts predict that Amneal Pharmaceuticals will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Several hedge funds have recently made changes to their positions in AMRX. Profund Advisors LLC raised its holdings in Amneal Pharmaceuticals by 8.1% in the 2nd quarter. Profund Advisors LLC now owns 22,522 shares of the company’s stock worth $143,000 after purchasing an additional 1,680 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Amneal Pharmaceuticals by 8.6% during the first quarter. ProShare Advisors LLC now owns 21,902 shares of the company’s stock valued at $133,000 after buying an additional 1,726 shares during the period. SG Americas Securities LLC raised its stake in Amneal Pharmaceuticals by 18.8% in the first quarter. SG Americas Securities LLC now owns 20,112 shares of the company’s stock worth $122,000 after buying an additional 3,177 shares in the last quarter. Rothschild Investment LLC purchased a new stake in Amneal Pharmaceuticals in the second quarter worth about $26,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Amneal Pharmaceuticals by 13.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,952 shares of the company’s stock valued at $222,000 after acquiring an additional 4,115 shares in the last quarter. 31.82% of the stock is owned by hedge funds and other institutional investors.

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.