Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Receives Average Rating of “Buy” from Brokerages

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) have been given an average rating of “Buy” by the five brokerages that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $10.80.

AMRX has been the topic of several recent research reports. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $9.00 to $12.00 in a report on Monday, February 24th. StockNews.com lowered Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Finally, Barclays increased their target price on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, March 3rd.

Amneal Pharmaceuticals Price Performance

Amneal Pharmaceuticals stock opened at $8.38 on Tuesday. The business has a 50 day moving average of $8.42 and a 200-day moving average of $8.37. The company has a market capitalization of $2.60 billion, a P/E ratio of -12.32 and a beta of 1.05. Amneal Pharmaceuticals has a 1 year low of $5.18 and a 1 year high of $9.48.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its quarterly earnings results on Friday, February 28th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.03). The business had revenue of $730.52 million during the quarter, compared to analyst estimates of $708.21 million. Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. During the same quarter last year, the company posted $0.14 earnings per share. Equities analysts anticipate that Amneal Pharmaceuticals will post 0.53 EPS for the current year.

Insider Buying and Selling

In other news, Director Gautam Patel sold 62,590 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $8.01, for a total transaction of $501,345.90. Following the transaction, the director now owns 1,968,886 shares in the company, valued at approximately $15,770,776.86. This represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.35, for a total value of $41,750,000.00. Following the completion of the sale, the insider now owns 48,578,209 shares of the company’s stock, valued at approximately $405,628,045.15. This represents a 9.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,240,000 shares of company stock valued at $43,754,000 over the last 90 days. Company insiders own 26.56% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Management LLC increased its holdings in shares of Amneal Pharmaceuticals by 2.5% during the fourth quarter. MetLife Investment Management LLC now owns 94,639 shares of the company’s stock valued at $750,000 after acquiring an additional 2,297 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Amneal Pharmaceuticals by 3.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,460 shares of the company’s stock valued at $716,000 after purchasing an additional 2,911 shares in the last quarter. Franklin Resources Inc. increased its stake in Amneal Pharmaceuticals by 4.9% during the 3rd quarter. Franklin Resources Inc. now owns 89,887 shares of the company’s stock valued at $778,000 after purchasing an additional 4,178 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Amneal Pharmaceuticals by 13.6% in the fourth quarter. Arizona State Retirement System now owns 40,401 shares of the company’s stock valued at $320,000 after buying an additional 4,851 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Amneal Pharmaceuticals by 2.5% in the fourth quarter. Alliancebernstein L.P. now owns 200,246 shares of the company’s stock valued at $1,586,000 after buying an additional 4,927 shares in the last quarter. 31.82% of the stock is owned by institutional investors and hedge funds.

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.