Amneal Pharmaceuticals (AMRX) Stock Price Up 5.6% on Analyst Upgrade
Amneal Pharmaceuticals Inc (NYSE:AMRX)’s share price rose 5.6% on Monday after Royal Bank of Canada upgraded the stock from a sector perform rating to an outperform rating. The company traded as high as $21.65 and last traded at $21.43. Approximately 2,435,721 shares traded hands during mid-day trading, an increase of 111% from the average daily volume of 1,155,630 shares. The stock had previously closed at $20.30.
A number of other brokerages have also weighed in on AMRX. Zacks Investment Research upgraded shares of Amneal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 30th. Cantor Fitzgerald reiterated a “buy” rating and issued a $35.00 price target on shares of Amneal Pharmaceuticals in a report on Thursday, August 9th. BMO Capital Markets lifted their price target on shares of Amneal Pharmaceuticals from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Friday. Guggenheim reiterated a “hold” rating on shares of Amneal Pharmaceuticals in a report on Friday, May 18th. Finally, ValuEngine downgraded shares of Amneal Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $23.67.
Several hedge funds have recently modified their holdings of AMRX. Fosun International Ltd purchased a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at $333,013,000. FMR LLC purchased a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at $130,351,000. BlackRock Inc. purchased a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at $95,312,000. TCW Group Inc. purchased a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at $42,390,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at $38,076,000. 96.49% of the stock is currently owned by institutional investors and hedge funds.
Amneal Pharmaceuticals (NYSE:AMRX) last issued its earnings results on Thursday, August 9th. The company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. Amneal Pharmaceuticals had a negative net margin of 52.94% and a negative return on equity of 8.74%. The business had revenue of $462.33 million for the quarter, compared to the consensus estimate of $460.82 million. The business’s quarterly revenue was down 2.5% on a year-over-year basis. analysts anticipate that Amneal Pharmaceuticals Inc will post 0.96 earnings per share for the current year.
Amneal Pharmaceuticals Company Profile (NYSE:AMRX)
Amneal Pharmaceuticals, Inc, a specialty pharmaceutical company, develops, manufactures, markets, and distributes generic pharmaceutical products for various dosage forms and therapeutic areas. It operates through Generic and Specialty Pharma divisions. The company's generics portfolio includes approximately 200 product families marketed in various dosage forms, such as solid oral doses comprising tablets, capsules, and powders; liquids; sterile injectables; nasal sprays; inhalation and respiratory products; ophthalmics; films; transdermal patches; and topicals, as well as soft gel, complex molecule, and drug-device combinations.
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