Amneal Pharmaceuticals (NASDAQ:AMRX) Sets New 1-Year High at $7.72

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $7.72 and last traded at $7.72, with a volume of 58853 shares traded. The stock had previously closed at $7.60.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMRX. Truist Financial restated a “buy” rating and issued a $9.00 price objective (up from $7.00) on shares of Amneal Pharmaceuticals in a report on Monday, May 6th. Piper Sandler upped their price target on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Finally, The Goldman Sachs Group increased their price objective on shares of Amneal Pharmaceuticals from $6.25 to $8.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $8.25.

Amneal Pharmaceuticals Stock Up 0.7 %

The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 121.31. The stock’s fifty day simple moving average is $6.75 and its 200 day simple moving average is $6.08.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its quarterly earnings results on Friday, May 3rd. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.04. Amneal Pharmaceuticals had a negative net margin of 6.76% and a positive return on equity of 234.06%. The business had revenue of $659.19 million for the quarter, compared to analyst estimates of $623.08 million. On average, sell-side analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.52 EPS for the current year.

Institutional Investors Weigh In On Amneal Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMRX. Vanguard Group Inc. increased its holdings in shares of Amneal Pharmaceuticals by 0.6% during the first quarter. Vanguard Group Inc. now owns 13,728,233 shares of the company’s stock valued at $83,193,000 after acquiring an additional 85,846 shares in the last quarter. Rubric Capital Management LP increased its stake in Amneal Pharmaceuticals by 98.8% during the 4th quarter. Rubric Capital Management LP now owns 8,000,000 shares of the company’s stock valued at $48,560,000 after purchasing an additional 3,975,500 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Amneal Pharmaceuticals by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,329,508 shares of the company’s stock worth $8,070,000 after buying an additional 26,875 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of Amneal Pharmaceuticals by 3.4% during the fourth quarter. Teacher Retirement System of Texas now owns 744,752 shares of the company’s stock valued at $4,521,000 after buying an additional 24,651 shares during the last quarter. Finally, Phocas Financial Corp. purchased a new position in Amneal Pharmaceuticals in the 4th quarter worth $4,339,000. 31.82% of the stock is currently 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.