Amneal Pharmaceuticals (NASDAQ:AMRX) Sets New 52-Week High – Still a Buy?

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $11.40 and last traded at $11.35, with a volume of 2440737 shares traded. The stock had previously closed at $11.19.

Analysts Set New Price Targets

Several analysts have recently issued reports on AMRX shares. Piper Sandler reiterated an “overweight” rating and set a $13.00 price target (up previously from $11.00) on shares of Amneal Pharmaceuticals in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amneal Pharmaceuticals in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Amneal Pharmaceuticals from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Amneal Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $12.50.

Amneal Pharmaceuticals Trading Down 0.3%

The firm’s fifty day moving average is $10.12 and its 200-day moving average is $8.75. The stock has a market capitalization of $3.66 billion, a P/E ratio of 1,167.17 and a beta of 1.21.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.05. The business had revenue of $784.51 million for the quarter. Amneal Pharmaceuticals had a negative return on equity of 189.49% and a net margin of 0.12%. Amneal Pharmaceuticals has set its FY 2025 guidance at 0.750-0.80 EPS. Equities research analysts expect that Amneal Pharmaceuticals, Inc. will post 0.53 EPS for the current year.

Insider Transactions at Amneal Pharmaceuticals

In related news, EVP Andrew S. Boyer sold 279,244 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $9.38, for a total transaction of $2,619,308.72. Following the completion of the transaction, the executive vice president owned 152,426 shares in the company, valued at approximately $1,429,755.88. This represents a 64.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Kiely sold 32,000 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $9.23, for a total value of $295,360.00. Following the completion of the sale, the director directly owned 225,433 shares of the company’s stock, valued at approximately $2,080,746.59. The trade was a 12.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 609,206 shares of company stock worth $5,700,625 in the last 90 days. 26.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC bought a new position in Amneal Pharmaceuticals during the first quarter worth $31,000. Exchange Traded Concepts LLC acquired a new stake in shares of Amneal Pharmaceuticals during the 3rd quarter worth about $31,000. Amalgamated Bank boosted its holdings in shares of Amneal Pharmaceuticals by 33.0% during the 1st quarter. Amalgamated Bank now owns 5,511 shares of the company’s stock worth $46,000 after buying an additional 1,367 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Amneal Pharmaceuticals by 16.7% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,107 shares of the company’s stock valued at $98,000 after buying an additional 1,735 shares during the last quarter. Finally, Xponance Inc. raised its holdings in Amneal Pharmaceuticals by 16.1% in the 1st quarter. Xponance Inc. now owns 13,183 shares of the company’s stock valued at $110,000 after acquiring an additional 1,828 shares during the period. Institutional investors and hedge funds 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.