Algert Global LLC Buys 46,537 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Algert Global LLC lifted its position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 11.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 452,724 shares of the company’s stock after buying an additional 46,537 shares during the quarter. Algert Global LLC’s holdings in Amneal Pharmaceuticals were worth $2,875,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMRX. Vanguard Group Inc. grew its position in shares of Amneal Pharmaceuticals by 0.6% in the 1st 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 period. Sanders Morris Harris LLC bought a new position in Amneal Pharmaceuticals during the first quarter worth about $1,513,000. Hillsdale Investment Management Inc. increased its position in Amneal Pharmaceuticals by 19.7% during the first quarter. Hillsdale Investment Management Inc. now owns 699,719 shares of the company’s stock worth $4,240,000 after buying an additional 115,100 shares during the last quarter. Bank of New York Mellon Corp boosted its stake 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 worth $4,771,000 after acquiring an additional 128,772 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Amneal Pharmaceuticals by 417.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 36,106 shares of the company’s stock worth $218,000 after acquiring an additional 29,133 shares during the last quarter. 31.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AMRX shares. Barclays lifted their target price 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. Truist Financial upped their target price on Amneal Pharmaceuticals from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. raised Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price target for the company in a report on Friday, September 6th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Amneal Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Amneal Pharmaceuticals Stock Performance

NASDAQ AMRX opened at $8.70 on Wednesday. Amneal Pharmaceuticals, Inc. has a 12-month low of $3.36 and a 12-month high of $8.94. The firm has a 50-day moving average price of $8.09 and a two-hundred day moving average price of $7.03. The company has a market capitalization of $2.69 billion, a P/E ratio of -15.54 and a beta of 1.18. The company has a quick ratio of 0.82, a current ratio of 1.33 and a debt-to-equity ratio of 121.31.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its 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. Amneal Pharmaceuticals had a positive return on equity of 1,235.03% and a negative net margin of 6.72%. The firm had revenue of $701.78 million during the quarter, compared to the consensus estimate of $657.43 million. Analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.52 earnings per share for the current year.

Amneal Pharmaceuticals 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.