Amneal Pharmaceuticals (NASDAQ:AMRX) Hits New 12-Month High at $6.90

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $6.90 and last traded at $6.75, with a volume of 2129877 shares trading hands. The stock had previously closed at $6.21.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMRX. Piper Sandler boosted their price objective on Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Barclays upped their price objective on Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. StockNews.com cut Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, March 4th. Finally, The Goldman Sachs Group upped their price objective on Amneal Pharmaceuticals from $5.50 to $6.25 and gave the stock a “buy” rating in a report on Monday, March 4th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Amneal Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $7.31.

Amneal Pharmaceuticals Stock Up 8.9 %

The company has a current ratio of 1.63, a quick ratio of 0.94 and a debt-to-equity ratio of 121.31. The business has a 50-day moving average price of $5.74 and a 200-day moving average price of $5.25. The firm has a market cap of $2.08 billion, a P/E ratio of -21.81 and a beta of 1.33.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMRX. Gladius Capital Management LP purchased a new position in shares of Amneal Pharmaceuticals in the third quarter worth about $39,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Amneal Pharmaceuticals in the third quarter worth about $54,000. Trexquant Investment LP purchased a new position in Amneal Pharmaceuticals during the fourth quarter valued at approximately $65,000. TCG Advisory Services LLC purchased a new position in Amneal Pharmaceuticals during the fourth quarter valued at approximately $91,000. Finally, Aigen Investment Management LP purchased a new position in Amneal Pharmaceuticals during the third quarter valued at approximately $118,000. 31.82% of the stock is currently owned by hedge funds and other institutional investors.

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.