Amneal Pharmaceuticals (NASDAQ:AMRX) Price Target Raised to $12.00 at Truist Financial

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) had its price target hoisted by research analysts at Truist Financial from $10.00 to $12.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's price objective suggests a potential upside of 39.70% from the stock's current price.

Several other analysts have also recently commented on AMRX. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from an "underweight" rating to a "neutral" rating and set a $9.00 price target for the company in a report on Friday, September 6th. Barclays boosted their target price 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 equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $9.40.

Amneal Pharmaceuticals Trading Down 1.3 %

Shares of NASDAQ:AMRX traded down $0.11 during trading on Wednesday, reaching $8.59. The stock had a trading volume of 931,901 shares, compared to its average volume of 1,478,582. The company has a quick ratio of 0.82, a current ratio of 1.33 and a debt-to-equity ratio of 121.31. The stock has a market cap of $2.65 billion, a P/E ratio of -15.34 and a beta of 1.18. The business has a fifty day moving average price of $8.11 and a 200-day moving average price of $7.04. Amneal Pharmaceuticals has a fifty-two week low of $3.36 and a fifty-two week high of $8.94.

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

Hedge Funds Weigh In On Amneal Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rubric Capital Management LP raised its position in Amneal Pharmaceuticals by 98.8% in the fourth quarter. Rubric Capital Management LP now owns 8,000,000 shares of the company's stock valued at $48,560,000 after purchasing an additional 3,975,500 shares during the period. Hennessy Advisors Inc. purchased a new position in Amneal Pharmaceuticals in the 2nd quarter worth approximately $8,818,000. Acadian Asset Management LLC boosted its stake in shares of Amneal Pharmaceuticals by 701.8% in the second quarter. Acadian Asset Management LLC now owns 811,853 shares of the company's stock valued at $5,148,000 after purchasing an additional 710,598 shares during the period. Dimensional Fund Advisors LP increased its stake in Amneal Pharmaceuticals by 17.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company's stock worth $27,205,000 after buying an additional 641,405 shares during the period. Finally, BlackBarn Capital Partners LP lifted its holdings in Amneal Pharmaceuticals by 41.5% in the 2nd quarter. BlackBarn Capital Partners LP now owns 2,000,000 shares of the company's stock worth $12,700,000 after buying an additional 586,703 shares in the last quarter. Institutional investors and hedge funds own 31.82% of the company's stock.

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.