Amneal Pharmaceuticals (NASDAQ:AMRX) Trading Down 7.1%

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) shares dropped 7.1% during mid-day trading on Thursday . The company traded as low as $5.59 and last traded at $5.62. Approximately 1,801,136 shares changed hands during mid-day trading, an increase of 18% from the average daily volume of 1,521,437 shares. The stock had previously closed at $6.05.

Analyst Ratings Changes

AMRX has been the topic of a number of research reports. StockNews.com downgraded shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, March 4th. Piper Sandler lifted their price target on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. The Goldman Sachs Group lifted their price target on shares of Amneal Pharmaceuticals from $5.50 to $6.25 and gave the company a “buy” rating in a report on Monday, March 4th. Finally, Barclays lifted their price target on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Amneal Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $7.31.

Amneal Pharmaceuticals Trading Down 2.5 %

The company has a debt-to-equity ratio of 121.31, a current ratio of 1.63 and a quick ratio of 0.94. The stock’s 50-day moving average is $5.72 and its two-hundred day moving average is $5.17. The stock has a market cap of $1.81 billion, a P/E ratio of -18.19 and a beta of 1.33.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its quarterly earnings results on Friday, March 1st. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The company had revenue of $616.98 million for the quarter, compared to the consensus estimate of $630.67 million. Amneal Pharmaceuticals had a negative net margin of 3.51% and a positive return on equity of 126.04%. Equities research analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in AMRX. Rubric Capital Management LP raised its stake in shares of Amneal Pharmaceuticals by 98.8% in the fourth quarter. Rubric Capital Management LP now owns 8,000,000 shares of the company’s stock valued at $48,560,000 after acquiring an additional 3,975,500 shares during the period. Phocas Financial Corp. purchased a new position in Amneal Pharmaceuticals in the 4th quarter worth about $4,339,000. Hillsdale Investment Management Inc. increased its stake in Amneal Pharmaceuticals by 1,240.3% in the 4th quarter. Hillsdale Investment Management Inc. now owns 584,619 shares of the company’s stock worth $3,549,000 after buying an additional 541,000 shares during the period. Vanguard Group Inc. increased its stake in Amneal Pharmaceuticals by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 13,548,300 shares of the company’s stock worth $57,174,000 after buying an additional 412,599 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Amneal Pharmaceuticals by 271.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 546,537 shares of the company’s stock worth $3,312,000 after buying an additional 399,492 shares during the period. Hedge funds and other institutional investors own 31.82% of the company’s stock.

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.