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

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) has been given a consensus rating of “Buy” by the four brokerages that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $8.25.

A number of equities research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. StockNews.com lowered shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 4th. Barclays raised their price objective on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Truist Financial reaffirmed a “buy” rating and set a $9.00 price target (up from $7.00) on shares of Amneal Pharmaceuticals in a research note on Monday. Finally, The Goldman Sachs Group boosted their price objective on Amneal Pharmaceuticals from $6.25 to $8.00 and gave the stock a “buy” rating in a research note on Monday.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. Aigen Investment Management LP acquired a new position in shares of Amneal Pharmaceuticals in the 3rd quarter valued at $118,000. Assenagon Asset Management S.A. increased its position in shares of Amneal Pharmaceuticals by 122.4% in the third quarter. Assenagon Asset Management S.A. now owns 515,233 shares of the company’s stock worth $2,174,000 after acquiring an additional 283,524 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Amneal Pharmaceuticals by 27.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 492,304 shares of the company’s stock valued at $2,078,000 after acquiring an additional 107,090 shares during the period. Caxton Associates LP purchased a new stake in shares of Amneal Pharmaceuticals in the 3rd quarter valued at approximately $508,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Amneal Pharmaceuticals during the 3rd quarter worth approximately $160,000. 31.82% of the stock is currently owned by institutional investors and hedge funds.

Amneal Pharmaceuticals Stock Up 1.2 %

NASDAQ:AMRX opened at $6.59 on Thursday. The stock has a 50-day simple moving average of $5.79 and a 200 day simple moving average of $5.34. Amneal Pharmaceuticals has a one year low of $1.74 and a one year high of $6.90. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -11.77 and a beta of 1.33. The company has a debt-to-equity ratio of 121.31, a quick ratio of 0.97 and a current ratio of 1.65.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its earnings results on Friday, March 1st. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. Amneal Pharmaceuticals had a positive return on equity of 234.06% and a negative net margin of 6.76%. The company had revenue of $616.98 million during the quarter, compared to the consensus estimate of $630.67 million. Sell-side analysts predict that Amneal Pharmaceuticals will post 0.5 EPS for the current fiscal year.

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.