Amneal Pharmaceuticals (NASDAQ:AMRX) Shares Down 7.1%

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)’s share price traded down 7.1% during trading on Thursday . The company traded as low as $5.59 and last traded at $5.62. 1,801,136 shares traded hands during trading, an increase of 18% from the average session volume of 1,521,437 shares. The stock had previously closed at $6.05.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Barclays upped 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. Piper Sandler boosted their price target on Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. StockNews.com lowered Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, March 4th. Finally, The Goldman Sachs Group boosted their price target on Amneal Pharmaceuticals from $5.50 to $6.25 and gave the company a “buy” rating in a report on Monday, March 4th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $7.31.

Amneal Pharmaceuticals Price Performance

The company has a fifty day simple moving average of $5.72 and a 200-day simple moving average of $5.19. The company has a current ratio of 1.63, a quick ratio of 0.94 and a debt-to-equity ratio of 121.31.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its quarterly earnings data on Friday, March 1st. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. Amneal Pharmaceuticals had a positive return on equity of 126.04% and a negative net margin of 3.51%. The business had revenue of $616.98 million during the quarter, compared to analyst estimates of $630.67 million. Equities research analysts predict that Amneal Pharmaceuticals, Inc. will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Aigen Investment Management LP acquired a new stake in shares of Amneal Pharmaceuticals during the 3rd quarter valued at about $118,000. Assenagon Asset Management S.A. boosted its holdings in Amneal Pharmaceuticals by 122.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 515,233 shares of the company’s stock worth $2,174,000 after buying an additional 283,524 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Amneal Pharmaceuticals by 27.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 492,304 shares of the company’s stock worth $2,078,000 after buying an additional 107,090 shares during the last quarter. Caxton Associates LP acquired a new stake in Amneal Pharmaceuticals in the 3rd quarter worth about $508,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Amneal Pharmaceuticals in the 3rd quarter worth about $160,000. 31.82% of the stock is currently owned by institutional investors and hedge funds.

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.