Amneal Pharmaceuticals (NASDAQ:AMRX) Hits New 1-Year High After Analyst Upgrade

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) hit a new 52-week high on Monday after StockNews.com upgraded the stock from a buy rating to a strong-buy rating. The company traded as high as $9.10 and last traded at $9.06, with a volume of 469675 shares changing hands. The stock had previously closed at $8.73.

A number of other equities research analysts also recently weighed in on AMRX. Piper Sandler upped their price target on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Monday. Barclays upped their price target on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Truist Financial upped their price target on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. raised shares of 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 research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Amneal Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $10.00.

Institutional Trading of Amneal Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Amneal Pharmaceuticals by 0.6% during the first 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. Hillsdale Investment Management Inc. increased its holdings in shares of Amneal Pharmaceuticals by 19.7% in the 1st quarter. Hillsdale Investment Management Inc. now owns 699,719 shares of the company’s stock valued at $4,240,000 after purchasing an additional 115,100 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Amneal Pharmaceuticals by 20.7% in 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 period. CANADA LIFE ASSURANCE Co increased its holdings in shares of Amneal Pharmaceuticals by 417.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 36,106 shares of the company’s stock valued at $218,000 after purchasing an additional 29,133 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in shares of Amneal Pharmaceuticals by 701.8% in the 2nd quarter. Acadian Asset Management LLC now owns 811,853 shares of the company’s stock valued at $5,148,000 after purchasing an additional 710,598 shares during the period. 31.82% of the stock is owned by hedge funds and other institutional investors.

Amneal Pharmaceuticals Trading Up 5.4 %

The company has a market cap of $2.85 billion, a price-to-earnings ratio of -13.53 and a beta of 1.17. The business has a fifty day moving average price of $8.53 and a two-hundred day moving average price of $7.56.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued 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. The company had revenue of $701.78 million for the quarter, compared to the consensus estimate of $657.43 million. Amneal Pharmaceuticals had a positive return on equity of 1,235.03% and a negative net margin of 6.72%. On average, analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.52 EPS for the current year.

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.