Amneal Pharmaceuticals (NASDAQ:AMRX) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Amneal Pharmaceuticals (NASDAQ:AMRX) from a buy rating to a strong-buy rating in a report released on Monday.

A number of other equities analysts also recently weighed in on AMRX. JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 target price for the company in a research note on Friday, September 6th. Piper Sandler upped their price objective on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Monday. Barclays lifted their price target on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Finally, Truist Financial raised their target price on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $10.00.

Amneal Pharmaceuticals Stock Performance

Shares of AMRX opened at $9.20 on Monday. The company has a 50-day simple moving average of $8.53 and a 200-day simple moving average of $7.56. Amneal Pharmaceuticals has a 52 week low of $4.15 and a 52 week high of $9.32. The firm has a market capitalization of $2.85 billion, a P/E ratio of -13.53 and a beta of 1.17.

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

Hedge Funds Weigh In On Amneal Pharmaceuticals

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