Amneal Pharmaceuticals (NASDAQ:AMRX) Stock Price Expected to Rise, Barclays Analyst Says

Amneal Pharmaceuticals (NASDAQ:AMRX) had its price objective hoisted by Barclays from $10.00 to $11.00 in a report issued on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. Piper Sandler raised their price objective on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $9.00 to $12.00 in a research report on Monday, February 24th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $10.80.

Amneal Pharmaceuticals Stock Performance

Amneal Pharmaceuticals stock opened at $8.97 on Monday. Amneal Pharmaceuticals has a 52 week low of $5.18 and a 52 week high of $9.48. The stock has a market capitalization of $2.78 billion, a P/E ratio of -13.19 and a beta of 1.10. The stock has a 50-day simple moving average of $8.16 and a 200 day simple moving average of $8.34.

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

Insider Activity

In other news, Director Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $8.01, for a total value of $501,345.90. Following the completion of the sale, the director now directly owns 1,968,886 shares in the company, valued at approximately $15,770,776.86. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 240,000 shares of company stock worth $2,004,000. Corporate insiders own 26.56% of the company’s stock.

Institutional Investors Weigh In On Amneal Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Amneal Pharmaceuticals by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 14,841,969 shares of the company’s stock valued at $117,548,000 after buying an additional 218,025 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Amneal Pharmaceuticals by 5.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,991,702 shares of the company’s stock valued at $39,531,000 after purchasing an additional 278,653 shares in the last quarter. Geode Capital Management LLC raised its position in Amneal Pharmaceuticals by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 3,813,207 shares of the company’s stock valued at $30,207,000 after purchasing an additional 26,536 shares in the last quarter. Nantahala Capital Management LLC raised its position in Amneal Pharmaceuticals by 37.3% during 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 in the last quarter. Finally, State Street Corp raised its position in Amneal Pharmaceuticals by 3.8% during the third quarter. State Street Corp now owns 3,514,721 shares of the company’s stock valued at $29,242,000 after purchasing an additional 127,753 shares in 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.