Amneal Pharmaceuticals (NASDAQ:AMRX) Research Coverage Started at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Amneal Pharmaceuticals (NASDAQ:AMRX) in a research report report published on Friday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $12.00 target price on the stock.

Other research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $9.00 to $12.00 in a research note on Monday, February 24th. Finally, Barclays boosted their price target on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $11.60.

Amneal Pharmaceuticals Stock Up 6.3%

Shares of AMRX stock opened at $7.62 on Friday. The stock has a market capitalization of $2.39 billion, a PE ratio of -11.21 and a beta of 1.05. The firm has a 50 day moving average of $7.38 and a two-hundred day moving average of $7.95. Amneal Pharmaceuticals has a 52 week low of $6.29 and a 52 week high of $9.48.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. The company had revenue of $695.42 million during the quarter, compared to the consensus estimate of $714.78 million. Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. Analysts expect that Amneal Pharmaceuticals will post 0.53 EPS for the current fiscal year.

Insider Transactions at Amneal Pharmaceuticals

In other Amneal Pharmaceuticals news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of Amneal Pharmaceuticals stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.35, for a total transaction of $41,750,000.00. Following the completion of the transaction, the insider now owns 48,578,209 shares in the company, valued at approximately $405,628,045.15. The trade was a 9.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 26.56% of the company’s stock.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Nuveen LLC acquired a new position in Amneal Pharmaceuticals in the 1st quarter valued at $19,581,000. Nantahala Capital Management LLC raised its position in Amneal Pharmaceuticals by 37.3% in the fourth quarter. Nantahala Capital Management LLC now owns 3,665,529 shares of the company’s stock valued at $29,031,000 after purchasing an additional 995,586 shares during the period. Woodline Partners LP lifted its position in Amneal Pharmaceuticals by 165.2% during the 1st quarter. Woodline Partners LP now owns 1,504,095 shares of the company’s stock worth $12,604,000 after acquiring an additional 937,035 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Amneal Pharmaceuticals by 6.2% during the first quarter. Vanguard Group Inc. now owns 15,762,727 shares of the company’s stock worth $132,092,000 after purchasing an additional 920,758 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Amneal Pharmaceuticals by 51.3% in the 1st quarter. Acadian Asset Management LLC now owns 2,598,294 shares of the company’s stock worth $21,759,000 after buying an additional 880,471 shares in the last quarter. 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.