Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) has been given a consensus recommendation of “Moderate Buy” by the five analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $10.00.

A number of brokerages recently weighed in on AMRX. StockNews.com upgraded Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 11th. Barclays raised their price target on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. upgraded 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 note on Friday, September 6th. Truist Financial raised their target price on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler upped their price target on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th.

Amneal Pharmaceuticals Stock Up 1.3 %

Amneal Pharmaceuticals stock opened at $8.44 on Wednesday. Amneal Pharmaceuticals has a twelve month low of $4.16 and a twelve month high of $9.48. The business has a fifty day moving average of $8.58 and a two-hundred day moving average of $7.70. The firm has a market cap of $2.61 billion, a P/E ratio of -12.41 and a beta of 1.17.

Insider Buying and Selling at Amneal Pharmaceuticals

In other Amneal Pharmaceuticals news, SVP Jason B. Daly sold 43,657 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $8.61, for a total transaction of $375,886.77. Following the sale, the senior vice president now owns 13,665 shares in the company, valued at approximately $117,655.65. The trade was a 76.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.46% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMRX. Hennessy Advisors Inc. acquired a new position in Amneal Pharmaceuticals in the 2nd quarter worth approximately $8,818,000. Rubric Capital Management LP increased its stake in shares of Amneal Pharmaceuticals by 12.4% in the second quarter. Rubric Capital Management LP now owns 10,721,778 shares of the company’s stock worth $68,083,000 after acquiring an additional 1,179,830 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Amneal Pharmaceuticals by 701.8% during the second quarter. Acadian Asset Management LLC now owns 811,853 shares of the company’s stock worth $5,148,000 after purchasing an additional 710,598 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Amneal Pharmaceuticals by 114.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,204,994 shares of the company’s stock valued at $10,026,000 after purchasing an additional 642,065 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Amneal Pharmaceuticals by 17.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company’s stock valued at $27,205,000 after purchasing an additional 641,405 shares during the last quarter. 31.82% of the stock is currently owned by hedge funds and other institutional investors.

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.