Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Receives Average Recommendation of “Buy” from Brokerages

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) has been assigned a consensus rating of “Buy” from the five brokerages that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $10.80.

A number of equities analysts have commented on the stock. Barclays boosted their price target on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and increased their target price for the company from $9.00 to $12.00 in a research note on Monday, February 24th. Finally, StockNews.com lowered Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th.

Amneal Pharmaceuticals Stock Performance

Shares of AMRX stock opened at $8.89 on Tuesday. Amneal Pharmaceuticals has a 52-week low of $5.18 and a 52-week high of $9.48. The business’s fifty day moving average is $8.40 and its 200 day moving average is $8.37. The company has a market capitalization of $2.76 billion, a PE ratio of -13.07 and a beta of 1.05.

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

Insider Buying and Selling at Amneal Pharmaceuticals

In related news, Director Gautam Patel sold 17,410 shares of Amneal Pharmaceuticals stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.01, for a total value of $139,454.10. Following the transaction, the director now directly owns 2,031,476 shares of the company’s stock, valued at $16,272,122.76. The trade was a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.35, for a total transaction of $41,750,000.00. Following the sale, the insider now directly owns 48,578,209 shares of the company’s stock, valued at $405,628,045.15. The trade was a 9.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,240,000 shares of company stock worth $43,754,000 over the last three months. Company insiders own 26.56% of the company’s stock.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of hedge funds have recently modified their holdings of AMRX. Vanguard Group Inc. boosted its holdings in shares of Amneal Pharmaceuticals by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 14,841,969 shares of the company’s stock worth $117,548,000 after purchasing an additional 218,025 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Amneal Pharmaceuticals by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,991,702 shares of the company’s stock worth $39,531,000 after buying an additional 278,653 shares during the period. Geode Capital Management LLC grew its position in shares of Amneal Pharmaceuticals by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 3,813,207 shares of the company’s stock worth $30,207,000 after buying an additional 26,536 shares during the last quarter. Nantahala Capital Management LLC grew its position in shares of Amneal Pharmaceuticals by 37.3% in the 4th quarter. Nantahala Capital Management LLC now owns 3,665,529 shares of the company’s stock worth $29,031,000 after buying an additional 995,586 shares during the last quarter. Finally, State Street Corp increased its stake in shares of 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 buying an additional 127,753 shares during the period. Hedge funds and other institutional investors own 31.82% of the company’s stock.

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.