Amneal Pharmaceuticals (NASDAQ:AMRX) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals (NASDAQ:AMRX) from an underweight rating to a neutral rating in a report released on Friday, Marketbeat reports. They currently have $9.00 price objective on the stock.

Other analysts also recently issued reports about the company. Truist Financial increased their price objective on Amneal Pharmaceuticals from $9.00 to $10.00 and gave the company a buy rating in a report on Monday, August 12th. Barclays lifted their target price on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an overweight rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $9.00.

Amneal Pharmaceuticals Price Performance

Amneal Pharmaceuticals stock opened at $8.46 on Friday. The stock has a 50-day moving average price of $7.63 and a two-hundred day moving average price of $6.69. Amneal Pharmaceuticals has a 12 month low of $3.36 and a 12 month high of $8.72. The company has a market capitalization of $2.62 billion, a PE ratio of -15.11 and a beta of 1.18. The company has a current ratio of 1.33, a quick ratio of 0.82 and a debt-to-equity ratio of 121.31.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its quarterly earnings data on Friday, August 9th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. Amneal Pharmaceuticals had a negative net margin of 6.72% and a positive return on equity of 1,235.03%. The business had revenue of $701.78 million during the quarter, compared to analyst estimates of $657.43 million. Analysts expect that Amneal Pharmaceuticals will post 0.52 EPS for the current year.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nantahala Capital Management LLC raised its position in shares of Amneal Pharmaceuticals by 1.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 2,669,943 shares of the company’s stock worth $16,954,000 after acquiring an additional 50,000 shares in the last quarter. Algert Global LLC grew its stake in Amneal Pharmaceuticals by 11.5% during the second quarter. Algert Global LLC now owns 452,724 shares of the company’s stock worth $2,875,000 after purchasing an additional 46,537 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Amneal Pharmaceuticals by 32.0% in the second quarter. The Manufacturers Life Insurance Company now owns 94,195 shares of the company’s stock worth $598,000 after purchasing an additional 22,850 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Amneal Pharmaceuticals in the second quarter worth approximately $707,000. Finally, BlackBarn Capital Partners LP increased its holdings in Amneal Pharmaceuticals by 41.5% in the second quarter. BlackBarn Capital Partners LP now owns 2,000,000 shares of the company’s stock worth $12,700,000 after purchasing an additional 586,703 shares in the last quarter. Institutional investors and hedge funds own 31.82% of the company’s stock.

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.