Amneal Pharmaceuticals (NASDAQ:AMRX) Shares Down 5.5% – What’s Next?

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) fell 5.5% during trading on Wednesday . The company traded as low as $12.86 and last traded at $12.6180. 588,990 shares changed hands during trading, a decline of 78% from the average session volume of 2,670,884 shares. The stock had previously closed at $13.35.

Analyst Ratings Changes

A number of brokerages have weighed in on AMRX. Truist Financial increased their target price on shares of Amneal Pharmaceuticals from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Barclays began coverage on shares of Amneal Pharmaceuticals in a report on Monday, December 8th. They set an “overweight” rating and a $15.00 target price on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Amneal Pharmaceuticals in a research report on Wednesday, January 21st. Finally, Zacks Research raised Amneal Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $14.20.

Amneal Pharmaceuticals Trading Down 5.5%

The stock has a market cap of $3.97 billion, a PE ratio of 54.80 and a beta of 1.35. The firm has a fifty day simple moving average of $13.81 and a two-hundred day simple moving average of $11.96.

Institutional Trading of Amneal Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Amneal Pharmaceuticals by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,638 shares of the company’s stock worth $793,000 after acquiring an additional 4,178 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Amneal Pharmaceuticals by 32.6% in the 1st quarter. Millennium Management LLC now owns 2,087,398 shares of the company’s stock worth $17,492,000 after purchasing an additional 512,842 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Amneal Pharmaceuticals during the 1st quarter valued at about $244,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Amneal Pharmaceuticals by 5.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 334,956 shares of the company’s stock valued at $2,807,000 after buying an additional 16,536 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its position in Amneal Pharmaceuticals by 12.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 42,124 shares of the company’s stock worth $341,000 after buying an additional 4,596 shares during the last quarter. Hedge funds and other institutional investors own 31.82% of the company’s stock.

Amneal Pharmaceuticals Company Profile

Amneal Pharmaceuticals, Inc is a publicly traded integrated healthcare company specializing in the development, manufacturing and distribution of generic and specialty pharmaceutical products. The company’s portfolio includes oral solids, injectables, transdermals and biosimilars, serving a broad range of therapeutic areas such as cardiovascular, neuroscience, oncology and women’s health. Alongside its generic offerings, Amneal has built a branded portfolio through strategic acquisitions and internal development, positioning itself across both high-volume generics and higher-value specialty treatments.

Since its founding in 2002 by brothers Chirag and Chintu Modgil, Amneal has pursued growth through organic investment in research and development as well as targeted M&A.