Brokerages Set Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Price Target at $10.00

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report) have been assigned an average rating of "Moderate Buy" from the five brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $10.00.

A number of equities analysts have recently issued reports on the company. StockNews.com raised Amneal Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Monday, November 11th. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from an "underweight" rating to a "neutral" rating and set a $9.00 target price on the stock in a research note on Friday, September 6th. Truist Financial increased their target price on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a "buy" rating in a research report on Wednesday, October 2nd. Piper Sandler raised their price target on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an "overweight" rating in a report on Monday, November 11th. Finally, Barclays raised their target price on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an "overweight" rating in a research note on Tuesday, August 13th.

Amneal Pharmaceuticals Price Performance

Shares of Amneal Pharmaceuticals stock traded down $0.03 during midday trading on Wednesday, hitting $8.41. The company had a trading volume of 729,156 shares, compared to its average volume of 1,402,498. Amneal Pharmaceuticals has a 1-year low of $4.16 and a 1-year high of $9.48. The stock has a market cap of $2.60 billion, a PE ratio of -12.41 and a beta of 1.17. The business's 50 day simple moving average is $8.58 and its two-hundred day simple moving average is $7.70.

Insider Buying and Selling at Amneal Pharmaceuticals

In other news, SVP Jason B. Daly sold 43,657 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $8.61, for a total transaction of $375,886.77. Following the completion of the transaction, the senior vice president now directly owns 13,665 shares in the company, valued at approximately $117,655.65. The trade was a 76.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 17.46% of the company's stock.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in AMRX. Hennessy Advisors Inc. acquired a new stake in Amneal Pharmaceuticals during the 2nd quarter worth approximately $8,818,000. Rubric Capital Management LP boosted its stake in Amneal Pharmaceuticals by 12.4% in the 2nd quarter. Rubric Capital Management LP now owns 10,721,778 shares of the company's stock worth $68,083,000 after purchasing an additional 1,179,830 shares during the period. Acadian Asset Management LLC increased its holdings in Amneal Pharmaceuticals by 701.8% during the 2nd quarter. Acadian Asset Management LLC now owns 811,853 shares of the company's stock worth $5,148,000 after purchasing an additional 710,598 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Amneal Pharmaceuticals by 114.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,204,994 shares of the company's stock valued at $10,026,000 after purchasing an additional 642,065 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Amneal Pharmaceuticals by 17.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company's stock valued at $27,205,000 after purchasing an additional 641,405 shares in the last quarter. Institutional investors and hedge funds own 31.82% of the company's stock.

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.