Amneal Pharmaceuticals (NASDAQ:AMRX) Lowered to Buy Rating by StockNews.com

StockNews.com downgraded shares of Amneal Pharmaceuticals (NASDAQ:AMRX) from a strong-buy rating to a buy rating in a research report released on Thursday morning.

A number of other research analysts also recently commented on AMRX. JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price objective for the company in a research report on Friday, September 6th. Piper Sandler raised their target price on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Finally, Truist Financial boosted their price target on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.00.

Amneal Pharmaceuticals Trading Up 0.8 %

NASDAQ:AMRX opened at $7.75 on Thursday. The stock has a market capitalization of $2.40 billion, a PE ratio of -11.40 and a beta of 1.12. Amneal Pharmaceuticals has a 1-year low of $5.01 and a 1-year high of $9.48. The firm has a fifty day simple moving average of $8.43 and a 200 day simple moving average of $7.92.

Insider Activity

In other news, SVP Jason B. Daly sold 43,657 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $8.61, for a total transaction of $375,886.77. Following the completion of the sale, the senior vice president now owns 13,665 shares in the company, valued at $117,655.65. The trade was a 76.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 26.56% of the company’s stock.

Institutional Trading of Amneal Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in AMRX. Franklin Resources Inc. grew its holdings in Amneal Pharmaceuticals by 4.9% in the 3rd quarter. Franklin Resources Inc. now owns 89,887 shares of the company’s stock valued at $778,000 after buying an additional 4,178 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Amneal Pharmaceuticals by 11.1% in the third quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock valued at $31,511,000 after acquiring an additional 378,136 shares during the period. Barclays PLC grew its stake in shares of Amneal Pharmaceuticals by 134.1% in the third quarter. Barclays PLC now owns 296,384 shares of the company’s stock valued at $2,466,000 after acquiring an additional 169,756 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Amneal Pharmaceuticals in the third quarter valued at about $311,000. Finally, Wellington Management Group LLP bought a new position in Amneal Pharmaceuticals during the third quarter worth about $687,000. 31.82% of the stock is 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.