Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Receives $9.40 Average Price Target from Brokerages

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five brokerages that are presently covering the stock, MarketBeat.com 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 brokers that have updated their coverage on the stock in the last year is $9.40.

Several research firms have weighed in on AMRX. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from an "underweight" rating to a "neutral" rating and set a $9.00 target price on the stock in a report on Friday, September 6th. Truist Financial increased their price objective on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. Finally, Barclays increased their price objective on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an "overweight" rating in a research note on Tuesday, August 13th.

Amneal Pharmaceuticals Price Performance

Shares of AMRX stock traded up $0.09 during midday trading on Friday, hitting $8.40. The company had a trading volume of 640,761 shares, compared to its average volume of 910,307. The company's 50 day simple moving average is $8.50 and its 200 day simple moving average is $7.33. Amneal Pharmaceuticals has a 52-week low of $3.72 and a 52-week high of $8.95. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of -13.55 and a beta of 1.18.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last announced its quarterly earnings data on Friday, August 9th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $701.78 million for the quarter, compared to analyst estimates of $657.43 million. Analysts anticipate that Amneal Pharmaceuticals will post 0.52 EPS for the current year.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Large investors have recently modified their holdings of the company. Rothschild Investment LLC acquired a new stake in Amneal Pharmaceuticals during the 2nd quarter valued at approximately $26,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Amneal Pharmaceuticals in the 2nd quarter worth approximately $42,000. Atlanta Consulting Group Advisors LLC bought a new stake in shares of Amneal Pharmaceuticals in the 1st quarter worth approximately $61,000. nVerses Capital LLC bought a new stake in shares of Amneal Pharmaceuticals in the 2nd quarter worth approximately $62,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Amneal Pharmaceuticals in the 1st quarter worth approximately $65,000. 31.82% of the stock is currently owned by hedge funds and other institutional investors.

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.