The Goldman Sachs Group Boosts Amneal Pharmaceuticals (NASDAQ:AMRX) Price Target to $8.00

Amneal Pharmaceuticals (NASDAQ:AMRX) had its price target raised by stock analysts at The Goldman Sachs Group from $6.25 to $8.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 19.23% from the stock’s current price.

Several other equities analysts also recently commented on AMRX. Barclays boosted their price objective on Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Truist Financial reaffirmed a “buy” rating and set a $9.00 price target (up from $7.00) on shares of Amneal Pharmaceuticals in a research report on Monday. Piper Sandler increased their target price on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Finally, StockNews.com downgraded shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 4th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $8.25.

Amneal Pharmaceuticals Trading Down 0.7 %

NASDAQ:AMRX traded down $0.05 during trading hours on Monday, reaching $6.71. 403,478 shares of the company were exchanged, compared to its average volume of 1,555,572. Amneal Pharmaceuticals has a 52-week low of $1.74 and a 52-week high of $6.90. The stock has a 50 day simple moving average of $5.76 and a 200 day simple moving average of $5.29. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -12.00 and a beta of 1.33. The company has a debt-to-equity ratio of 121.31, a current ratio of 1.65 and a quick ratio of 0.97.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its earnings results on Friday, March 1st. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The business had revenue of $616.98 million for the quarter, compared to analyst estimates of $630.67 million. Amneal Pharmaceuticals had a negative net margin of 6.76% and a positive return on equity of 234.06%. As a group, analysts predict that Amneal Pharmaceuticals will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Rubric Capital Management LP increased 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 worth $48,560,000 after buying an additional 3,975,500 shares in the last quarter. Phocas Financial Corp. bought a new stake in shares of Amneal Pharmaceuticals during the 4th quarter worth about $4,339,000. Hillsdale Investment Management Inc. boosted its stake in shares of Amneal Pharmaceuticals by 1,240.3% in the 4th quarter. Hillsdale Investment Management Inc. now owns 584,619 shares of the company’s stock valued at $3,549,000 after purchasing an additional 541,000 shares during the last quarter. Vanguard Group Inc. grew its position in Amneal Pharmaceuticals by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 13,548,300 shares of the company’s stock worth $57,174,000 after purchasing an additional 412,599 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Amneal Pharmaceuticals by 271.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 546,537 shares of the company’s stock valued at $3,312,000 after buying an additional 399,492 shares during the last quarter. 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.