Amneal Pharmaceuticals (NASDAQ:AMRX) Trading 4.5% Higher - Time to Buy?

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report) shares traded up 4.5% during trading on Tuesday . The company traded as high as $8.10 and last traded at $8.10. 374,343 shares were traded during trading, a decline of 73% from the average session volume of 1,378,676 shares. The stock had previously closed at $7.75.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AMRX shares. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from an "underweight" rating to a "neutral" rating and set a $9.00 price target for the company in a research note on Friday, September 6th. Piper Sandler lifted their target price on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an "overweight" rating in a research report on Monday, November 11th. Truist Financial upped their price target on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, October 2nd. Finally, StockNews.com upgraded shares of Amneal Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $10.00.

Amneal Pharmaceuticals Stock Performance

The firm's fifty day moving average price is $8.47 and its 200 day moving average price is $7.92. The firm has a market cap of $2.50 billion, a P/E ratio of -11.87 and a beta of 1.12.

Insider Transactions at Amneal Pharmaceuticals

In other news, SVP Jason B. Daly sold 43,657 shares of the business's stock in a transaction on Friday, November 15th. The shares were 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 of the company's stock, valued at $117,655.65. The trade was a 76.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 26.56% of the company's stock.

Institutional Trading of Amneal Pharmaceuticals

Several large investors have recently added to or reduced their stakes in AMRX. Assenagon Asset Management S.A. grew its holdings in Amneal Pharmaceuticals by 3.0% during the second quarter. Assenagon Asset Management S.A. now owns 562,929 shares of the company's stock worth $3,575,000 after acquiring an additional 16,392 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Amneal Pharmaceuticals by 3,279.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 228,917 shares of the company's stock worth $1,454,000 after purchasing an additional 222,144 shares during the period. Hennessy Advisors Inc. purchased a new position in shares of Amneal Pharmaceuticals during the 2nd quarter valued at approximately $8,818,000. Bank of New York Mellon Corp lifted its stake in shares of Amneal Pharmaceuticals by 20.7% in 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 purchasing an additional 128,772 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Amneal Pharmaceuticals by 13.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,952 shares of the company's stock worth $222,000 after buying an additional 4,115 shares in the last quarter. Hedge funds and other institutional investors 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.