Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) have received an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $10.00.

Several research analysts have issued reports on AMRX shares. Barclays upped their price objective on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price objective for the company in a research report on Friday, September 6th. Truist Financial boosted their price objective on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. StockNews.com raised shares of Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, Piper Sandler boosted their price target on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th.

Insiders Place Their Bets

In other Amneal Pharmaceuticals news, SVP Jason B. Daly sold 43,657 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $8.61, for a total value of $375,886.77. Following the completion of the sale, the senior vice president now owns 13,665 shares of the company’s stock, valued at approximately $117,655.65. This represents a 76.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 26.56% of the company’s stock.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Rothschild Investment LLC acquired a new stake in Amneal Pharmaceuticals during the 2nd quarter worth $26,000. Gladius Capital Management LP bought a new stake in shares of Amneal Pharmaceuticals in the third quarter worth about $37,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Amneal Pharmaceuticals during the second quarter worth about $42,000. nVerses Capital LLC bought a new position in shares of Amneal Pharmaceuticals during the 2nd quarter valued at about $62,000. Finally, Bayesian Capital Management LP bought a new position in shares of Amneal Pharmaceuticals during the 1st quarter valued at about $65,000. Institutional investors and hedge funds own 31.82% of the company’s stock.

Amneal Pharmaceuticals Trading Up 0.8 %

Shares of NASDAQ AMRX opened at $8.39 on Wednesday. Amneal Pharmaceuticals has a 1-year low of $4.16 and a 1-year high of $9.48. The company has a 50-day moving average of $8.57 and a two-hundred day moving average of $7.73. The company has a market cap of $2.60 billion, a PE ratio of -12.34 and a beta of 1.17.

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.