Amneal Pharmaceuticals (NASDAQ:AMRX) Hits New 1-Year High After Analyst Upgrade

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report) reached a new 52-week high during mid-day trading on Monday after Piper Sandler raised their price target on the stock from $9.00 to $11.00. Piper Sandler currently has an overweight rating on the stock. Amneal Pharmaceuticals traded as high as $9.10 and last traded at $9.06, with a volume of 469675 shares traded. The stock had previously closed at $8.73.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from an "underweight" rating to a "neutral" rating and set a $9.00 target price for the company in a report on Friday, September 6th. Truist Financial lifted their target price on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, October 2nd. Finally, Barclays lifted their price target on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an "overweight" rating in a report on Tuesday, August 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $10.00.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of hedge funds have recently bought and sold shares of AMRX. Rothschild Investment LLC purchased a new stake in shares of Amneal Pharmaceuticals during the 2nd quarter valued at about $26,000. Gladius Capital Management LP purchased a new stake in shares of Amneal Pharmaceuticals during the 3rd quarter valued at about $37,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Amneal Pharmaceuticals during the 2nd quarter valued at about $42,000. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Amneal Pharmaceuticals during the 1st quarter valued at about $61,000. Finally, nVerses Capital LLC purchased a new stake in shares of Amneal Pharmaceuticals during the 2nd quarter valued at about $62,000. Hedge funds and other institutional investors own 31.82% of the company's stock.

Amneal Pharmaceuticals Stock Performance

The stock has a market cap of $2.85 billion, a PE ratio of -12.94 and a beta of 1.17. The company's 50-day moving average price is $8.53 and its 200 day moving average price is $7.56.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last released its earnings results on Friday, August 9th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. The company had revenue of $701.78 million during the quarter, compared to analyst estimates of $657.43 million. Amneal Pharmaceuticals had a negative net margin of 6.72% and a positive return on equity of 1,235.03%. On average, sell-side analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.52 earnings per share for the current fiscal year.

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.