Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Receives $10.00 Average Price Target from Analysts

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the five analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $10.00.

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

Insiders Place Their Bets

In related news, SVP Jason B. Daly sold 43,657 shares of Amneal Pharmaceuticals stock in a transaction on Friday, November 15th. The stock was sold at an average price of $8.61, for a total transaction of $375,886.77. Following the sale, the senior vice president now directly owns 13,665 shares in the company, valued at approximately $117,655.65. This trade represents a 76.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 26.56% of the company's stock.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Large investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its stake in shares of Amneal Pharmaceuticals by 3.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 562,929 shares of the company's stock worth $3,575,000 after purchasing an additional 16,392 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Amneal Pharmaceuticals by 3,279.8% in the second quarter. Nisa Investment Advisors LLC now owns 228,917 shares of the company's stock worth $1,454,000 after buying an additional 222,144 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Amneal Pharmaceuticals in the second quarter valued at $8,818,000. Bank of New York Mellon Corp lifted its position in shares of Amneal Pharmaceuticals by 20.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 751,403 shares of the company's stock valued at $4,771,000 after buying an additional 128,772 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Amneal Pharmaceuticals by 13.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,952 shares of the company's stock worth $222,000 after acquiring an additional 4,115 shares during the period. 31.82% of the stock is owned by hedge funds and other institutional investors.

Amneal Pharmaceuticals Stock Down 1.1 %

AMRX traded down $0.09 during midday trading on Friday, hitting $7.83. The company had a trading volume of 735,063 shares, compared to its average volume of 1,384,085. The stock's 50 day moving average price is $8.49 and its 200 day moving average price is $7.90. Amneal Pharmaceuticals has a 52 week low of $4.74 and a 52 week high of $9.48. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of -11.51 and a beta of 1.12.

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.