Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Receives $9.40 Average PT from Analysts

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) have earned a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $9.40.

A number of equities analysts have recently issued reports on the company. Barclays raised their price target 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 boosted their price objective on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price objective on the stock in a research report on Friday, September 6th.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Several hedge funds have recently made changes to their positions in AMRX. Rothschild Investment LLC purchased a new stake in shares of Amneal Pharmaceuticals during the 2nd quarter worth about $26,000. DekaBank Deutsche Girozentrale acquired a new stake in Amneal Pharmaceuticals in the 2nd quarter valued at approximately $42,000. Atlanta Consulting Group Advisors LLC acquired a new stake in Amneal Pharmaceuticals in the 1st quarter valued at approximately $61,000. nVerses Capital LLC purchased a new position in Amneal Pharmaceuticals in the 2nd quarter valued at approximately $62,000. Finally, Bayesian Capital Management LP purchased a new position in Amneal Pharmaceuticals in the 1st quarter valued at approximately $65,000. 31.82% of the stock is owned by institutional investors and hedge funds.

Amneal Pharmaceuticals Stock Performance

AMRX stock opened at $8.49 on Friday. Amneal Pharmaceuticals has a fifty-two week low of $3.91 and a fifty-two week high of $8.95. The business’s 50 day moving average price is $8.54 and its two-hundred day moving average price is $7.43. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -13.69 and a beta of 1.18.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its earnings results on Friday, August 9th. The company reported $0.15 EPS for the quarter, beating 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 business had revenue of $701.78 million for the quarter, compared to the consensus estimate of $657.43 million. Sell-side analysts forecast that Amneal Pharmaceuticals will post 0.52 earnings per share for the current year.

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.