Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Receives Consensus Rating of "Buy" from Brokerages

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report) has earned a consensus recommendation of "Buy" from the five research firms that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $10.80.

Several brokerages recently issued reports on AMRX. Barclays boosted their price target on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from a "neutral" rating to an "overweight" rating and upped their target price for the company from $9.00 to $12.00 in a research note on Monday, February 24th.

Insider Buying and Selling

In other news, Director Gautam Patel sold 80,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $8.90, for a total value of $712,000.00. Following the sale, the director now owns 1,808,886 shares in the company, valued at approximately $16,099,085.40. The trade was a 4.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $8.35, for a total transaction of $41,750,000.00. Following the sale, the insider now owns 48,578,209 shares of the company's stock, valued at $405,628,045.15. This trade represents a 9.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,160,000 shares of company stock worth $43,113,200 in the last 90 days. 17.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Several institutional investors have recently bought and sold shares of AMRX. State Street Corp lifted its position in Amneal Pharmaceuticals by 3.8% during the 3rd quarter. State Street Corp now owns 3,514,721 shares of the company's stock worth $29,242,000 after buying an additional 127,753 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Amneal Pharmaceuticals during the third quarter worth approximately $687,000. Barclays PLC grew its stake in shares of Amneal Pharmaceuticals by 134.1% during the third quarter. Barclays PLC now owns 296,384 shares of the company's stock valued at $2,466,000 after purchasing an additional 169,756 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Amneal Pharmaceuticals by 11.1% during the third quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company's stock valued at $31,511,000 after purchasing an additional 378,136 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Amneal Pharmaceuticals by 4.9% in the 3rd quarter. Franklin Resources Inc. now owns 89,887 shares of the company's stock worth $778,000 after purchasing an additional 4,178 shares during the last quarter. Institutional investors own 31.82% of the company's stock.

Amneal Pharmaceuticals Stock Up 1.8 %

Shares of AMRX stock traded up $0.14 during trading hours on Friday, reaching $7.44. 400,247 shares of the company's stock were exchanged, compared to its average volume of 1,623,369. The business has a fifty day moving average price of $8.07 and a 200-day moving average price of $8.21. The stock has a market capitalization of $2.30 billion, a P/E ratio of -10.93 and a beta of 1.06. Amneal Pharmaceuticals has a fifty-two week low of $5.59 and a fifty-two week high of $9.48.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last issued its quarterly earnings results on Friday, February 28th. The company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.03). Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. The company had revenue of $730.52 million during the quarter, compared to the consensus estimate of $708.21 million. During the same period last year, the company earned $0.14 earnings per share. As a group, research analysts expect that Amneal Pharmaceuticals will post 0.53 EPS for the current fiscal year.

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.