Amneal Pharmaceuticals (NASDAQ:AMRX) Price Target Increased to $12.00 by Analysts at Truist Financial

Amneal Pharmaceuticals (NASDAQ:AMRX) had its target price hoisted by Truist Financial from $10.00 to $12.00 in a report issued on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other analysts have also recently issued reports on AMRX. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from an underweight rating to a neutral rating and set a $9.00 price objective on the stock in a research note on Friday, September 6th. Barclays raised their target price on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an overweight rating in a report on Tuesday, August 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $9.40.

Amneal Pharmaceuticals Stock Performance

Amneal Pharmaceuticals stock opened at $8.65 on Wednesday. The firm has a 50 day simple moving average of $8.16 and a 200-day simple moving average of $7.07. The company has a debt-to-equity ratio of 121.31, a current ratio of 1.33 and a quick ratio of 0.82. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of -15.45 and a beta of 1.18. Amneal Pharmaceuticals has a 1-year low of $3.36 and a 1-year high of $8.94.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its quarterly earnings data on Friday, August 9th. The company reported $0.15 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $701.78 million for the quarter, compared to analyst estimates of $657.43 million. On average, analysts expect that Amneal Pharmaceuticals will post 0.52 EPS for the current year.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Amneal Pharmaceuticals by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 13,728,233 shares of the company’s stock valued at $83,193,000 after purchasing an additional 85,846 shares during the last quarter. Sanders Morris Harris LLC acquired a new position in shares of Amneal Pharmaceuticals during the 1st quarter valued at about $1,513,000. Hillsdale Investment Management Inc. raised its stake in Amneal Pharmaceuticals by 19.7% during the first quarter. Hillsdale Investment Management Inc. now owns 699,719 shares of the company’s stock worth $4,240,000 after purchasing an additional 115,100 shares during the period. Bank of New York Mellon Corp boosted its holdings in Amneal Pharmaceuticals by 20.7% in the second quarter. Bank of New York Mellon Corp now owns 751,403 shares of the company’s stock valued at $4,771,000 after acquiring an additional 128,772 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of Amneal Pharmaceuticals by 417.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 36,106 shares of the company’s stock valued at $218,000 after purchasing an additional 29,133 shares in the last quarter. Hedge funds and other institutional investors own 31.82% of the company’s stock.

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.