Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report) rose 3.6% on Monday . The stock traded as high as $8.33 and last traded at $8.58. Approximately 90,937 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 1,366,759 shares. The stock had previously closed at $8.28.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. StockNews.com cut Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Thursday, December 19th. Barclays boosted their target price on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an "overweight" rating in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $9.00 to $12.00 in a research report on Monday, February 24th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $10.80.
Read Our Latest Research Report on AMRX
Amneal Pharmaceuticals Price Performance
The company has a fifty day moving average price of $8.38 and a two-hundred day moving average price of $8.36. The company has a market capitalization of $2.29 billion, a P/E ratio of -10.85 and a beta of 1.06.
Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last issued its quarterly earnings results on Friday, February 28th. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.03). The business had revenue of $730.52 million for the quarter, compared to analyst estimates of $708.21 million. Amneal Pharmaceuticals had a negative return on equity of 346.26% and a negative net margin of 6.88%. During the same quarter last year, the firm posted $0.14 EPS. As a group, sell-side analysts forecast that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current year.
Insider Buying and Selling
In other Amneal Pharmaceuticals news, Director Gautam Patel sold 80,000 shares of the firm'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 completion of the sale, the director now directly owns 1,808,886 shares in the company, valued at approximately $16,099,085.40. This trade represents a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.35, for a total value of $41,750,000.00. Following the completion of the sale, the insider now owns 48,578,209 shares of the company's stock, valued at approximately $405,628,045.15. This represents a 9.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,222,590 shares of company stock valued at $43,614,546 over the last ninety days. 17.46% of the stock is owned by company insiders.
Institutional Investors Weigh In On Amneal Pharmaceuticals
Several hedge funds and other institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. bought a new position in shares of Amneal Pharmaceuticals in the fourth quarter valued at $52,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Amneal Pharmaceuticals during the 4th quarter valued at about $81,000. Straightline Group LLC bought a new stake in Amneal Pharmaceuticals during the 4th quarter worth approximately $92,000. Brevan Howard Capital Management LP purchased a new stake in shares of Amneal Pharmaceuticals in the fourth quarter worth approximately $107,000. Finally, Cibc World Markets Corp bought a new position in shares of Amneal Pharmaceuticals in the fourth quarter valued at approximately $118,000. Institutional investors own 31.82% of the company's stock.
About Amneal Pharmaceuticals
(
Get Free Report)
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.
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