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

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $12.72 and last traded at $12.64, with a volume of 3058268 shares. The stock had previously closed at $12.33.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Piper Sandler reiterated an “overweight” rating and issued a $13.00 target price (up from $11.00) on shares of Amneal Pharmaceuticals in a research report on Friday, October 31st. Barclays started coverage on shares of Amneal Pharmaceuticals in a report on Monday, December 8th. They issued an “overweight” rating and a $15.00 price objective for the company. JPMorgan Chase & Co. upped their price target on Amneal Pharmaceuticals from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Amneal Pharmaceuticals in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $13.50.

Amneal Pharmaceuticals Trading Up 2.5%

The firm’s fifty day moving average is $11.34 and its 200-day moving average is $9.69. The stock has a market capitalization of $3.97 billion, a PE ratio of 632.32 and a beta of 1.36.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. Amneal Pharmaceuticals had a net margin of 0.20% and a negative return on equity of 185.60%. The business had revenue of $784.51 million during the quarter. Amneal Pharmaceuticals has set its FY 2025 guidance at 0.750-0.80 EPS. As a group, equities analysts predict that Amneal Pharmaceuticals, Inc. will post 0.53 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Nikita Shah sold 131,856 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $11.92, for a total transaction of $1,571,723.52. Following the completion of the transaction, the executive vice president directly owned 146,403 shares in the company, valued at $1,745,123.76. This trade represents a 47.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ted C. Nark sold 50,000 shares of Amneal Pharmaceuticals stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $11.72, for a total value of $586,000.00. Following the completion of the transaction, the director directly owned 291,029 shares of the company’s stock, valued at approximately $3,410,859.88. This represents a 14.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 231,856 shares of company stock worth $2,743,724 over the last 90 days. 26.56% of the stock is owned by insiders.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several large investors have recently added to or reduced their stakes in AMRX. Vanguard Group Inc. boosted its position in Amneal Pharmaceuticals by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 17,954,973 shares of the company’s stock valued at $179,729,000 after buying an additional 403,582 shares during the period. Rubric Capital Management LP raised its stake in shares of Amneal Pharmaceuticals by 5.3% in the third quarter. Rubric Capital Management LP now owns 12,334,941 shares of the company’s stock valued at $123,473,000 after acquiring an additional 624,609 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Amneal Pharmaceuticals by 2.5% in the third quarter. Dimensional Fund Advisors LP now owns 5,431,134 shares of the company’s stock valued at $54,361,000 after purchasing an additional 133,764 shares during the period. Nantahala Capital Management LLC grew its stake in Amneal Pharmaceuticals by 14.7% during the 2nd quarter. Nantahala Capital Management LLC now owns 4,367,438 shares of the company’s stock worth $35,333,000 after purchasing an additional 558,877 shares in the last quarter. Finally, BlackBarn Capital Partners LP increased its holdings in Amneal Pharmaceuticals by 19.6% during the 2nd quarter. BlackBarn Capital Partners LP now owns 3,446,570 shares of the company’s stock worth $27,883,000 after purchasing an additional 564,916 shares during the period. 31.82% of the stock is owned by hedge funds and other institutional investors.

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.