Amneal Pharmaceuticals (NASDAQ:AMRX) Stock Gets Price Target Increase from Leerink Partners

Amneal Pharmaceuticals (NASDAQ:AMRX) had its price objective hoisted by Leerink Partners from $23.00 to $25.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Leerink Partners‘s target price would suggest a potential upside of 24.13% from the stock’s previous close.

Several other equities analysts also recently commented on AMRX. UBS Group reiterated a “buy” rating on shares of Amneal Pharmaceuticals in a report on Thursday, October 1st. Zacks Research upgraded shares of Amneal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Monday, October 26th. Barclays lifted their target price on shares of Amneal Pharmaceuticals from $16.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, September 17th. JPMorgan Chase & Co. upped their price target on shares of Amneal Pharmaceuticals from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday. 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 issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Amneal Pharmaceuticals Stock Performance

Shares of Amneal Pharmaceuticals stock traded up $0.69 during trading on Thursday, hitting $20.14. 4,725,271 shares of the stock were exchanged, compared to its average volume of 4,094,258. The company has a current ratio of 2.20, a quick ratio of 1.44 and a debt-to-equity ratio of 77.65. The company has a fifty day moving average price of $19.33 and a 200-day moving average price of $15.91. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 47.95, a price-to-earnings-growth ratio of 2.38 and a beta of 1.24. Amneal Pharmaceuticals has a 1-year low of $11.29 and a 1-year high of $21.68.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $862.68 million for the quarter. Amneal Pharmaceuticals had a negative return on equity of 584.46% and a net margin of 5.05%. As a group, equities analysts predict that Amneal Pharmaceuticals will post 0.95 EPS for the current fiscal year.

Insider Transactions at Amneal Pharmaceuticals

In related news, EVP Nikita Shah sold 146,403 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president directly owned 253,390 shares of the company’s stock, valued at approximately $4,436,858.90. This trade represents a 36.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Kiely sold 50,000 shares of Amneal Pharmaceuticals stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $17.64, for a total transaction of $882,000.00. Following the completion of the sale, the director owned 210,252 shares of the company’s stock, valued at $3,708,845.28. This trade represents a 19.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 413,016 shares of company stock valued at $7,216,567. 17.30% of the stock is currently owned by corporate insiders.

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. Paralel Advisors LLC bought a new position in Amneal Pharmaceuticals during the 2nd quarter worth $3,217,000. California State Teachers Retirement System lifted its position in shares of Amneal Pharmaceuticals by 37.6% during the 1st quarter. California State Teachers Retirement System now owns 207,239 shares of the company’s stock valued at $2,576,000 after acquiring an additional 56,588 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Amneal Pharmaceuticals by 1,586.8% during the 1st quarter. Renaissance Technologies LLC now owns 276,637 shares of the company’s stock worth $3,439,000 after purchasing an additional 260,237 shares in the last quarter. Congress Asset Management Co. grew its holdings in shares of Amneal Pharmaceuticals by 94.7% during the 3rd quarter. Congress Asset Management Co. now owns 1,524,355 shares of the company’s stock worth $30,701,000 after purchasing an additional 741,577 shares in the last quarter. Finally, Corient Private Wealth LP increased its position in shares of Amneal Pharmaceuticals by 1,254.0% in the second quarter. Corient Private Wealth LP now owns 150,698 shares of the company’s stock worth $2,609,000 after purchasing an additional 139,568 shares during the period. 31.82% of the stock is currently owned by institutional investors and hedge funds.

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.