Amneal Pharmaceuticals (NASDAQ:AMRX) Trading 3.6% Higher – What’s Next?

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) shares traded up 3.6% on Monday . The company traded as high as $8.33 and last traded at $8.58. 90,937 shares traded hands during trading, a decline of 93% from the average session volume of 1,366,759 shares. The stock had previously closed at $8.28.

Analyst Ratings Changes

Several research firms have recently issued reports on AMRX. StockNews.com cut shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. Barclays raised their price objective on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $9.00 to $12.00 in a research report on Monday, February 24th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $10.80.

Amneal Pharmaceuticals Stock Up 1.5 %

The business’s 50-day moving average price is $8.42 and its 200-day moving average price is $8.37. The firm has a market capitalization of $2.60 billion, a PE ratio of -12.35 and a beta of 1.05.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its quarterly earnings results on Friday, February 28th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.03). Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. The company had revenue of $730.52 million for the quarter, compared to analysts’ expectations of $708.21 million. During the same quarter in the prior year, the firm earned $0.14 earnings per share. On average, analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.53 EPS for the current fiscal year.

Insider Transactions at Amneal Pharmaceuticals

In related news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of Amneal Pharmaceuticals stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.35, for a total value of $41,750,000.00. Following the completion of the sale, the insider now owns 48,578,209 shares of the company’s stock, valued at approximately $405,628,045.15. The trade was a 9.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gautam Patel sold 80,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $8.14, for a total transaction of $651,200.00. Following the transaction, the director now directly owns 1,888,886 shares in the company, valued at $15,375,532.04. The trade was a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,240,000 shares of company stock valued at $43,754,000 in the last three months. Corporate insiders own 26.56% of the company’s stock.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMRX. MetLife Investment Management LLC grew its stake in Amneal Pharmaceuticals by 2.5% in the 4th quarter. MetLife Investment Management LLC now owns 94,639 shares of the company’s stock valued at $750,000 after buying an additional 2,297 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Amneal Pharmaceuticals by 3.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,460 shares of the company’s stock worth $716,000 after purchasing an additional 2,911 shares during the last quarter. Franklin Resources Inc. boosted its stake in Amneal Pharmaceuticals by 4.9% during the 3rd quarter. Franklin Resources Inc. now owns 89,887 shares of the company’s stock valued at $778,000 after purchasing an additional 4,178 shares during the period. Arizona State Retirement System grew its holdings in Amneal Pharmaceuticals by 13.6% in the 4th quarter. Arizona State Retirement System now owns 40,401 shares of the company’s stock valued at $320,000 after buying an additional 4,851 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Amneal Pharmaceuticals by 2.5% in the 4th quarter. Alliancebernstein L.P. now owns 200,246 shares of the company’s stock valued at $1,586,000 after buying an additional 4,927 shares during the last quarter. 31.82% of the stock is currently owned by institutional investors and hedge funds.

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.