Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Receives $10.00 Average PT from Brokerages

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) has been given a consensus recommendation of “Moderate Buy” by the five brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $10.00.

Several equities analysts recently issued reports on AMRX shares. StockNews.com cut shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Piper Sandler upped their price objective on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th.

Insider Buying and Selling

In other Amneal Pharmaceuticals news, Director Gautam Patel sold 17,410 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.01, for a total transaction of $139,454.10. Following the completion of the transaction, the director now owns 2,031,476 shares of the company’s stock, valued at $16,272,122.76. This represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jason B. Daly sold 43,657 shares of Amneal Pharmaceuticals stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $8.61, for a total value of $375,886.77. Following the completion of the sale, the senior vice president now directly owns 13,665 shares in the company, valued at $117,655.65. This represents a 76.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 203,657 shares of company stock valued at $1,667,887. 17.46% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in Amneal Pharmaceuticals by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock valued at $31,511,000 after acquiring an additional 378,136 shares during the last quarter. State Street Corp increased its holdings in shares of Amneal Pharmaceuticals by 3.8% in the third quarter. State Street Corp now owns 3,514,721 shares of the company’s stock valued at $29,242,000 after purchasing an additional 127,753 shares during the last quarter. Hennessy Advisors Inc. lifted its position in Amneal Pharmaceuticals by 6.8% during the fourth quarter. Hennessy Advisors Inc. now owns 1,670,600 shares of the company’s stock worth $13,231,000 after buying an additional 106,600 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Amneal Pharmaceuticals by 16.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,404,883 shares of the company’s stock worth $11,689,000 after buying an additional 202,863 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Amneal Pharmaceuticals by 149.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company’s stock worth $10,792,000 after acquiring an additional 777,568 shares during the last quarter. 31.82% of the stock is owned by hedge funds and other institutional investors.

Amneal Pharmaceuticals Trading Down 0.1 %

Shares of AMRX stock opened at $7.98 on Monday. Amneal Pharmaceuticals has a twelve month low of $5.01 and a twelve month high of $9.48. The stock has a 50 day moving average of $8.15 and a 200 day moving average of $8.24. The stock has a market cap of $2.47 billion, a P/E ratio of -11.74 and a beta of 1.10.

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.