Amneal Pharmaceuticals (NASDAQ:AMRX – Free Report) had its target price raised by JPMorgan Chase & Co. from $24.00 to $25.00 in a report published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.
A number of other research firms also recently commented on AMRX. Leerink Partners started coverage on Amneal Pharmaceuticals in a report on Wednesday, September 9th. They set an “outperform” rating and a $23.00 target price on the stock. Barclays upped their price target on Amneal Pharmaceuticals from $16.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, September 17th. The Goldman Sachs Group restated a “buy” rating and set a $24.00 price objective on shares of Amneal Pharmaceuticals in a research note on Thursday, October 29th. UBS Group reiterated a “buy” rating on shares of Amneal Pharmaceuticals in a research note on Thursday, October 1st. Finally, Wall Street Zen raised shares of Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.
Read Our Latest Report on AMRX
Amneal Pharmaceuticals Stock Performance
AMRX traded up $0.69 during trading on Wednesday, hitting $20.14. The stock had a trading volume of 4,725,271 shares, compared to its average volume of 4,094,258. The firm has a market capitalization of $6.43 billion, a P/E ratio of 47.95, a PEG ratio of 2.38 and a beta of 1.24. The company has a debt-to-equity ratio of 77.65, a quick ratio of 1.44 and a current ratio of 2.20. Amneal Pharmaceuticals has a twelve month low of $11.29 and a twelve month high of $21.68. The company’s 50-day moving average price is $19.33 and its 200 day moving average price is $15.91.
Amneal Pharmaceuticals (NASDAQ:AMRX – Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. Amneal Pharmaceuticals had a negative return on equity of 584.46% and a net margin of 5.05%. The company had revenue of $862.68 million for the quarter. On average, equities research analysts forecast that Amneal Pharmaceuticals will post 0.95 EPS for the current fiscal year.
Insider Buying and Selling
In related news, EVP Nikita Shah sold 146,403 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $17.51, for a total transaction of $2,563,516.53. Following the completion of the transaction, the executive vice president directly owned 253,390 shares in the company, valued at $4,436,858.90. This represents a 36.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jason Daly sold 210,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $17.40, for a total transaction of $3,654,000.00. Following the completion of the sale, the executive vice president owned 35,171 shares in the company, valued at $611,975.40. This represents a 85.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 413,016 shares of company stock valued at $7,216,567. Company insiders own 17.30% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of AMRX. Diversified Trust Co lifted its stake in Amneal Pharmaceuticals by 164.9% during the third quarter. Diversified Trust Co now owns 45,194 shares of the company’s stock worth $910,000 after purchasing an additional 28,134 shares during the period. Fifth Third Bancorp grew its position in Amneal Pharmaceuticals by 12.8% in the third quarter. Fifth Third Bancorp now owns 44,643 shares of the company’s stock valued at $899,000 after acquiring an additional 5,053 shares during the period. Maryland State Retirement & Pension System lifted its holdings in shares of Amneal Pharmaceuticals by 63.5% during the third quarter. Maryland State Retirement & Pension System now owns 41,123 shares of the company’s stock valued at $828,000 after acquiring an additional 15,969 shares during the period. Illinois Municipal Retirement Fund boosted its stake in shares of Amneal Pharmaceuticals by 16.7% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 89,338 shares of the company’s stock valued at $1,799,000 after purchasing an additional 12,768 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Amneal Pharmaceuticals by 16.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,831,581 shares of the company’s stock worth $76,900,000 after purchasing an additional 536,048 shares in the last quarter. 31.82% of the stock is owned by institutional investors.
Amneal Pharmaceuticals Company Profile
Amneal Pharmaceuticals, Inc is a specialty pharmaceutical company that develops, manufactures and commercializes a broad portfolio of generic and specialty medicines. Its products include oral, injectable and inhaled medications, as well as complex dosage forms and other products designed to address areas where manufacturing or formulation requirements can be more challenging.
The company’s generics business offers medicines across a range of therapeutic categories, including central nervous system, cardiovascular, gastrointestinal, anti-infective and other treatments.
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