Rhumbline Advisers Buys 30,286 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Rhumbline Advisers raised its stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 14.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 233,217 shares of the company’s stock after purchasing an additional 30,286 shares during the quarter. Rhumbline Advisers’ holdings in Amneal Pharmaceuticals were worth $1,481,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in AMRX. Vanguard Group Inc. raised its holdings in shares of Amneal Pharmaceuticals by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 13,728,233 shares of the company’s stock valued at $83,193,000 after buying an additional 85,846 shares in the last quarter. Rubric Capital Management LP raised its stake in shares of Amneal Pharmaceuticals by 98.8% during the fourth quarter. Rubric Capital Management LP now owns 8,000,000 shares of the company’s stock worth $48,560,000 after acquiring an additional 3,975,500 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Amneal Pharmaceuticals in the 2nd quarter worth approximately $8,818,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Amneal Pharmaceuticals by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,329,508 shares of the company’s stock valued at $8,070,000 after purchasing an additional 26,875 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Amneal Pharmaceuticals by 20.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 751,403 shares of the company’s stock valued at $4,771,000 after purchasing an additional 128,772 shares during the last quarter. Hedge funds and other institutional investors own 31.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AMRX. Truist Financial boosted 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. Barclays boosted their target price on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 target price for the company in a report on Friday, September 6th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.00.

Amneal Pharmaceuticals Price Performance

AMRX stock opened at $8.70 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. The firm’s 50-day moving average price is $7.95 and its two-hundred day moving average price is $6.87. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -15.54 and a beta of 1.18. Amneal Pharmaceuticals, Inc. has a 12-month low of $3.36 and a 12-month high of $8.90.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.15 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $657.43 million. As a group, equities analysts predict that Amneal Pharmaceuticals, Inc. will post 0.52 earnings per share for the current year.

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.