Amneal Pharmaceuticals (NASDAQ:AMRX) Sets New 52-Week High at $6.90

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRXGet Free Report) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $6.90 and last traded at $6.75, with a volume of 2129877 shares changing hands. The stock had previously closed at $6.21.

Analysts Set New Price Targets

Several analysts recently weighed in on AMRX shares. Piper Sandler upped their price target on Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Barclays raised their price target on Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Monday, January 29th. downgraded shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 4th. Finally, The Goldman Sachs Group lifted their target price on shares of Amneal Pharmaceuticals from $5.50 to $6.25 and gave the stock a “buy” rating in a report on Monday, March 4th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $7.31.

Check Out Our Latest Stock Analysis on Amneal Pharmaceuticals

Amneal Pharmaceuticals Trading Up 8.9 %

The company has a debt-to-equity ratio of 121.31, a quick ratio of 0.94 and a current ratio of 1.63. The firm has a market cap of $2.08 billion, a PE ratio of -21.81 and a beta of 1.33. The stock has a 50-day simple moving average of $5.76 and a two-hundred day simple moving average of $5.27.

Amneal Pharmaceuticals (NASDAQ:AMRXGet Free Report) last released its quarterly earnings data on Friday, March 1st. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.07. Amneal Pharmaceuticals had a negative net margin of 3.51% and a positive return on equity of 126.04%. The firm had revenue of $616.98 million during the quarter, compared to analysts’ expectations of $630.67 million. As a group, sell-side analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.5 EPS for the current year.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in Amneal Pharmaceuticals by 10.3% in the third quarter. Principal Financial Group Inc. now owns 54,432 shares of the company’s stock worth $230,000 after purchasing an additional 5,092 shares during the last quarter. Gladius Capital Management LP purchased a new position in shares of Amneal Pharmaceuticals in the third quarter worth approximately $39,000. Trexquant Investment LP bought a new stake in Amneal Pharmaceuticals during the fourth quarter valued at approximately $65,000. Sherbrooke Park Advisers LLC purchased a new stake in Amneal Pharmaceuticals during the third quarter valued at approximately $54,000. Finally, TCG Advisory Services LLC bought a new position in Amneal Pharmaceuticals in the fourth quarter worth approximately $91,000. 31.82% of the stock is currently owned by hedge funds and other institutional investors.

Amneal Pharmaceuticals Company Profile

(Get Free Report)

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.

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