Amneal Pharmaceuticals (NASDAQ:AMRX) Hits New 1-Year High – Should You Buy?

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) reached a new 52-week high during trading on Wednesday. The company traded as high as $21.83 and last traded at $21.76, with a volume of 128,981 shares. The stock had previously closed at $21.38.

Analysts Set New Price Targets

Several brokerages recently commented on AMRX. Oppenheimer started coverage on shares of Amneal Pharmaceuticals in a report on Wednesday, September 23rd. They set an “outperform” rating and a $27.00 price target on the stock. Leerink Partners increased their price objective on shares of Amneal Pharmaceuticals from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, November 5th. Piper Sandler reissued an “overweight” rating and issued a $21.00 price objective on shares of Amneal Pharmaceuticals in a research note on Wednesday, November 4th. Zacks Research upgraded Amneal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Monday, October 26th. Finally, Barclays upped their target price on Amneal Pharmaceuticals from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, September 17th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Amneal Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Amneal Pharmaceuticals Stock Performance

The firm has a market capitalization of $6.93 billion, a P/E ratio of 51.67, a P/E/G ratio of 2.47 and a beta of 1.24. The firm has a 50-day moving average price of $19.64 and a two-hundred day moving average price of $16.07. The company has a debt-to-equity ratio of 5.61, a current ratio of 1.87 and a quick ratio of 1.24.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $862.68 million for the quarter. Amneal Pharmaceuticals had a net margin of 4.17% and a return on equity of 283.50%. On average, analysts forecast that Amneal Pharmaceuticals, Inc. will post 0.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP raised its stake in shares of Amneal Pharmaceuticals by 55.6% during the third quarter. First Trust Advisors LP now owns 955,599 shares of the company’s stock valued at $19,246,000 after acquiring an additional 341,393 shares in the last quarter. Public Sector Pension Investment Board grew its stake in Amneal Pharmaceuticals by 73.4% in the third quarter. Public Sector Pension Investment Board now owns 1,026,235 shares of the company’s stock worth $20,032,000 after purchasing an additional 434,400 shares in the last quarter. Global Retirement Partners LLC grew its stake in Amneal Pharmaceuticals by 42.6% in the third quarter. Global Retirement Partners LLC now owns 25,815 shares of the company’s stock worth $520,000 after purchasing an additional 7,706 shares in the last quarter. HighTower Advisors LLC purchased a new position in Amneal Pharmaceuticals during the 3rd quarter worth $222,000. Finally, Paralel Advisors LLC increased its holdings in Amneal Pharmaceuticals by 1.1% during the 3rd quarter. Paralel Advisors LLC now owns 187,941 shares of the company’s stock worth $3,785,000 after purchasing an additional 2,110 shares during the period. 31.82% of the stock is currently owned by institutional investors.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals is a U.S.-based pharmaceutical company that develops, manufactures and markets generic and specialty medicines. Its products include a broad range of generic drugs, including complex formulations and injectable medicines, as well as branded therapies in areas such as neurology and endocrinology. The company also operates AvKARE, which distributes pharmaceuticals and medical products to government, institutional and commercial customers. Amneal serves customers in the United States and in international markets.