Amneal Pharmaceuticals (NASDAQ:AMRX) Given “Buy” Rating at Truist Financial

Truist Financial reissued their buy rating on shares of Amneal Pharmaceuticals (NASDAQ:AMRX) in a research report sent to investors on Monday morning, Benzinga reports. Truist Financial currently has a $9.00 price objective on the stock, up from their previous price objective of $7.00.

Several other brokerages have also recently issued reports on AMRX. Piper Sandler lifted their target price on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an overweight rating in a report on Thursday, March 21st. Barclays lifted their target price on Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an overweight rating in a report on Monday, January 29th. The Goldman Sachs Group upped their price target on Amneal Pharmaceuticals from $5.50 to $6.25 and gave the company a buy rating in a report on Monday, March 4th. Finally, StockNews.com cut Amneal Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Monday, March 4th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Amneal Pharmaceuticals has an average rating of Buy and a consensus price target of $8.25.

Amneal Pharmaceuticals Stock Performance

Shares of AMRX opened at $6.47 on Monday. Amneal Pharmaceuticals has a 52 week low of $1.74 and a 52 week high of $6.90. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 121.31. The stock has a market cap of $1.99 billion, a P/E ratio of -11.55 and a beta of 1.33. The business’s 50 day moving average price is $5.83 and its 200-day moving average price is $5.35.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its earnings results on Friday, March 1st. The company reported $0.12 EPS for the quarter, topping the consensus estimate 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 business had revenue of $616.98 million for the quarter, compared to the consensus estimate of $630.67 million. Equities research analysts anticipate that Amneal Pharmaceuticals will post 0.5 earnings per share for the current fiscal year.

Institutional Trading of Amneal Pharmaceuticals

Large investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Amneal Pharmaceuticals during the third quarter valued at approximately $221,000. Raymond James & Associates raised its holdings in Amneal Pharmaceuticals by 12.4% in the 3rd quarter. Raymond James & Associates now owns 181,387 shares of the company’s stock worth $765,000 after purchasing an additional 20,000 shares during the period. Bank of New York Mellon Corp lifted its position in Amneal Pharmaceuticals by 9.6% during the third quarter. Bank of New York Mellon Corp now owns 688,362 shares of the company’s stock valued at $2,905,000 after purchasing an additional 60,024 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Amneal Pharmaceuticals by 10.3% during the third quarter. Principal Financial Group Inc. now owns 54,432 shares of the company’s stock valued at $230,000 after purchasing an additional 5,092 shares during the period. Finally, LSV Asset Management increased its position in Amneal Pharmaceuticals by 10.5% in the third quarter. LSV Asset Management now owns 1,429,300 shares of the company’s stock worth $6,032,000 after buying an additional 136,100 shares in the last quarter. 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.