Amneal Pharmaceuticals’ (AMRX) “Buy” Rating Reiterated at Truist Financial

Truist Financial reaffirmed their buy rating on shares of Amneal Pharmaceuticals (NASDAQ:AMRX) in a report released on Monday, Benzinga reports. The firm currently has a $9.00 price target on the stock, up from their prior price target of $7.00.

A number of other equities analysts have also recently issued reports on the company. Barclays upped their price objective on Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an overweight rating in a report on Monday, January 29th. The Goldman Sachs Group upped their target price on Amneal Pharmaceuticals from $5.50 to $6.25 and gave the stock a buy rating in a research note on Monday, March 4th. Piper Sandler lifted their price target 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 cut shares of Amneal Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Monday, March 4th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $8.25.

Amneal Pharmaceuticals Trading Down 1.8 %

Shares of Amneal Pharmaceuticals stock opened at $6.47 on Monday. The company has a 50 day simple moving average of $5.83 and a two-hundred day simple moving average of $5.35. The firm has a market cap of $1.99 billion, a PE ratio of -11.55 and a beta of 1.33. Amneal Pharmaceuticals has a 1 year low of $1.74 and a 1 year high of $6.90. 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 posted its quarterly earnings data 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. Amneal Pharmaceuticals had a negative net margin of 6.76% and a positive return on equity of 234.06%. The company had revenue of $616.98 million during the quarter, compared to the consensus estimate of $630.67 million. Analysts expect that Amneal Pharmaceuticals will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of large investors have recently bought and sold shares of AMRX. SG Americas Securities LLC purchased a new stake in shares of Amneal Pharmaceuticals during the third quarter valued at approximately $221,000. Raymond James & Associates raised its holdings in Amneal Pharmaceuticals by 12.4% during the 3rd quarter. Raymond James & Associates now owns 181,387 shares of the company’s stock valued at $765,000 after buying an additional 20,000 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Amneal Pharmaceuticals by 9.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 688,362 shares of the company’s stock worth $2,905,000 after acquiring an additional 60,024 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Amneal Pharmaceuticals by 10.3% in the third quarter. Principal Financial Group Inc. now owns 54,432 shares of the company’s stock valued at $230,000 after acquiring an additional 5,092 shares during the period. Finally, LSV Asset Management increased its position in shares of Amneal Pharmaceuticals by 10.5% in the third quarter. LSV Asset Management now owns 1,429,300 shares of the company’s stock valued at $6,032,000 after acquiring an additional 136,100 shares during the period. 31.82% of the stock is owned by hedge funds and other institutional investors.

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.