Amneal Pharmaceuticals (NASDAQ:AMRX) Price Target Raised to $12.00

Amneal Pharmaceuticals (NASDAQ:AMRX) had its target price increased by Truist Financial from $10.00 to $12.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 37.93% from the company’s current price.

Other research analysts have also issued research reports about the stock. Barclays raised their price objective on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price target for the company in a research note on Friday, September 6th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.40.

Amneal Pharmaceuticals Trading Up 4.6 %

NASDAQ AMRX opened at $8.70 on Wednesday. The firm has a 50 day simple moving average of $8.09 and a 200-day simple moving average of $7.03. The company has a debt-to-equity ratio of 121.31, a quick ratio of 0.82 and a current ratio of 1.33. Amneal Pharmaceuticals has a one year low of $3.36 and a one year high of $8.94. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -15.54 and a beta of 1.18.

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

Hedge Funds Weigh In On Amneal Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. Nantahala Capital Management LLC increased its stake in Amneal Pharmaceuticals by 1.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 2,669,943 shares of the company’s stock valued at $16,954,000 after buying an additional 50,000 shares during the period. Algert Global LLC increased its stake in Amneal Pharmaceuticals by 11.5% in the 2nd quarter. Algert Global LLC now owns 452,724 shares of the company’s stock valued at $2,875,000 after buying an additional 46,537 shares during the period. The Manufacturers Life Insurance Company increased its stake in Amneal Pharmaceuticals by 32.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 94,195 shares of the company’s stock valued at $598,000 after buying an additional 22,850 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Amneal Pharmaceuticals during the 2nd quarter worth $707,000. Finally, BlackBarn Capital Partners LP boosted its position in shares of Amneal Pharmaceuticals by 41.5% during the 2nd quarter. BlackBarn Capital Partners LP now owns 2,000,000 shares of the company’s stock worth $12,700,000 after purchasing an additional 586,703 shares in the last quarter. 31.82% of the stock is owned by institutional investors and hedge funds.

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.