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

Amneal Pharmaceuticals (NASDAQ:AMRX) was upgraded by equities researchers at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a note issued to investors on Friday, MarketBeat reports. The firm currently has a $9.00 price target on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 7.27% from the stock’s previous close.

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

Amneal Pharmaceuticals Trading Down 0.7 %

Shares of AMRX opened at $8.39 on Friday. Amneal Pharmaceuticals has a twelve month low of $3.36 and a twelve month high of $8.72. The firm has a market capitalization of $2.59 billion, a P/E ratio of -14.98 and a beta of 1.23. The company has a current ratio of 1.33, a quick ratio of 0.82 and a debt-to-equity ratio of 121.31. The firm’s 50-day moving average is $7.59 and its two-hundred day moving average is $6.66.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its quarterly earnings data 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. The company had revenue of $701.78 million during the quarter, compared to analyst estimates of $657.43 million. Amneal Pharmaceuticals had a negative net margin of 6.72% and a positive return on equity of 1,235.03%. On average, research analysts predict that Amneal Pharmaceuticals will post 0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of AMRX. Rothschild Investment LLC acquired a new position in shares of Amneal Pharmaceuticals during the second quarter worth approximately $26,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Amneal Pharmaceuticals during the 2nd quarter valued at about $42,000. Atlanta Consulting Group Advisors LLC purchased a new position in Amneal Pharmaceuticals in the 1st quarter worth approximately $61,000. nVerses Capital LLC purchased a new position in Amneal Pharmaceuticals in the 2nd quarter worth approximately $62,000. Finally, Trexquant Investment LP bought a new stake in shares of Amneal Pharmaceuticals in the 4th quarter worth approximately $65,000. 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.