Amneal Pharmaceuticals (NASDAQ:AMRX) Hits New 52-Week High at $7.28

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) hit a new 52-week high on Thursday . The company traded as high as $7.28 and last traded at $7.26, with a volume of 905707 shares traded. The stock had previously closed at $7.10.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AMRX. Truist Financial reaffirmed a “buy” rating and issued a $9.00 price objective (up from $7.00) on shares of Amneal Pharmaceuticals in a research report on Monday, May 6th. The Goldman Sachs Group raised their price target on Amneal Pharmaceuticals from $6.25 to $8.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Piper Sandler upped their price objective on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $8.25.

Amneal Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 121.31, a current ratio of 1.65 and a quick ratio of 0.97. The company’s 50 day moving average is $6.72 and its 200 day moving average is $6.06.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its earnings results on Friday, May 3rd. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. Amneal Pharmaceuticals had a negative net margin of 6.76% and a positive return on equity of 234.06%. The firm had revenue of $659.19 million for the quarter, compared to analyst estimates of $623.08 million. On average, analysts predict that Amneal Pharmaceuticals, Inc. will post 0.52 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AMRX. Sanders Morris Harris LLC increased its holdings in Amneal Pharmaceuticals by 127.2% in the 2nd quarter. Sanders Morris Harris LLC now owns 567,196 shares of the company’s stock valued at $3,602,000 after buying an additional 317,600 shares during the period. California State Teachers Retirement System increased its stake in Amneal Pharmaceuticals by 5.4% in the first quarter. California State Teachers Retirement System now owns 122,504 shares of the company’s stock valued at $742,000 after acquiring an additional 6,321 shares during the last quarter. Bayesian Capital Management LP acquired a new position in Amneal Pharmaceuticals during the first quarter valued at approximately $65,000. Caxton Associates LP lifted its stake in Amneal Pharmaceuticals by 9.7% during the first quarter. Caxton Associates LP now owns 91,481 shares of the company’s stock worth $554,000 after purchasing an additional 8,088 shares during the last quarter. Finally, Bellevue Group AG lifted its stake in Amneal Pharmaceuticals by 78.2% during the first quarter. Bellevue Group AG now owns 45,387 shares of the company’s stock worth $275,000 after purchasing an additional 19,917 shares during the last quarter. Institutional investors and hedge funds 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.