Amneal Pharmaceuticals (NASDAQ:AMRX) Lifted to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals (NASDAQ:AMRX) from an underweight rating to a neutral rating in a report released on Friday morning, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has $9.00 price objective on the stock.

Other analysts have also issued research reports about the company. Barclays increased their target price on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an overweight rating in a research note on Tuesday, August 13th. Truist Financial raised their price target on shares of Amneal Pharmaceuticals from $9.00 to $10.00 and gave the stock a buy rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $9.00.

Amneal Pharmaceuticals Stock Down 0.7 %

Shares of NASDAQ AMRX opened at $8.39 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.82 and a debt-to-equity ratio of 121.31. Amneal Pharmaceuticals has a 12-month low of $3.36 and a 12-month high of $8.72. The firm’s 50-day moving average price is $7.59 and its 200-day moving average price is $6.67. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of -14.98 and a beta of 1.18.

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 analysts’ consensus estimates 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 company had revenue of $701.78 million during the quarter, compared to the consensus estimate of $657.43 million. On average, equities research analysts anticipate that Amneal Pharmaceuticals will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Amneal Pharmaceuticals by 0.6% during the first quarter. Vanguard Group Inc. now owns 13,728,233 shares of the company’s stock valued at $83,193,000 after purchasing an additional 85,846 shares in the last quarter. Rubric Capital Management LP boosted its holdings in shares of Amneal Pharmaceuticals by 12.4% in the 2nd quarter. Rubric Capital Management LP now owns 10,721,778 shares of the company’s stock valued at $68,083,000 after buying an additional 1,179,830 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Amneal Pharmaceuticals by 17.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company’s stock worth $27,205,000 after buying an additional 641,405 shares during the last quarter. Nantahala Capital Management LLC raised its stake in shares of Amneal Pharmaceuticals by 1.9% during the 2nd quarter. Nantahala Capital Management LLC now owns 2,669,943 shares of the company’s stock worth $16,954,000 after acquiring an additional 50,000 shares in the last quarter. Finally, BlackBarn Capital Partners LP increased its position in shares of Amneal Pharmaceuticals by 41.5% during the second quarter. BlackBarn Capital Partners LP now owns 2,000,000 shares of the company’s stock worth $12,700,000 after purchasing an additional 586,703 shares in the last quarter. 31.82% of the stock is currently owned by 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.