Amneal Pharmaceuticals (NASDAQ:AMRX) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Amneal Pharmaceuticals (NASDAQ:AMRX) from a buy rating to a strong-buy rating in a research report report published on Monday morning.

A number of other brokerages have also commented on AMRX. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price target for the company in a report on Friday, September 6th. Barclays upped their price target on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Truist Financial upped their price target on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, Piper Sandler upped their price target on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Amneal Pharmaceuticals has an average rating of “Buy” and a consensus target price of $10.00.

Amneal Pharmaceuticals Stock Down 0.3 %

Shares of AMRX stock opened at $9.00 on Monday. Amneal Pharmaceuticals has a 12 month low of $4.16 and a 12 month high of $9.48. The firm has a market cap of $2.79 billion, a PE ratio of -13.28 and a beta of 1.17. The stock has a 50 day moving average of $8.56 and a 200-day moving average of $7.62.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Amneal Pharmaceuticals by 0.6% in the first quarter. Vanguard Group Inc. now owns 13,728,233 shares of the company’s stock valued at $83,193,000 after purchasing an additional 85,846 shares in the last quarter. Hillsdale Investment Management Inc. grew its position in Amneal Pharmaceuticals by 19.7% in the first quarter. Hillsdale Investment Management Inc. now owns 699,719 shares of the company’s stock valued at $4,240,000 after acquiring an additional 115,100 shares during the period. Bank of New York Mellon Corp grew its position in Amneal Pharmaceuticals by 20.7% in the second quarter. Bank of New York Mellon Corp now owns 751,403 shares of the company’s stock valued at $4,771,000 after acquiring an additional 128,772 shares during the period. CANADA LIFE ASSURANCE Co grew its position in Amneal Pharmaceuticals by 417.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 36,106 shares of the company’s stock valued at $218,000 after acquiring an additional 29,133 shares during the period. Finally, Acadian Asset Management LLC grew its position in Amneal Pharmaceuticals by 701.8% in the second quarter. Acadian Asset Management LLC now owns 811,853 shares of the company’s stock valued at $5,148,000 after acquiring an additional 710,598 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, 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.