StockNews.com Upgrades Amneal Pharmaceuticals (NASDAQ:AMRX) to Strong-Buy

Amneal Pharmaceuticals (NASDAQ:AMRX) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Monday.

Several other analysts also recently weighed in on AMRX. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $9.00 to $12.00 in a research note on Monday, February 24th. Barclays lifted their target price on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $11.50.

Amneal Pharmaceuticals Stock Performance

NASDAQ:AMRX opened at $7.18 on Monday. The firm has a 50-day simple moving average of $7.98 and a 200-day simple moving average of $8.15. Amneal Pharmaceuticals has a one year low of $6.29 and a one year high of $9.48. The firm has a market cap of $2.23 billion, a P/E ratio of -10.56 and a beta of 1.17.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its quarterly earnings results on Friday, May 2nd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.14 by $0.05. Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. The business had revenue of $695.42 million during the quarter, compared to analyst estimates of $714.78 million. On average, research analysts predict that Amneal Pharmaceuticals will post 0.53 EPS for the current fiscal year.

Insider Transactions at Amneal Pharmaceuticals

In other Amneal Pharmaceuticals news, Director Gautam Patel sold 80,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $8.90, for a total transaction of $712,000.00. Following the completion of the transaction, the director now owns 1,808,886 shares of the company’s stock, valued at $16,099,085.40. This trade represents a 4.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.35, for a total transaction of $41,750,000.00. Following the transaction, the insider now directly owns 48,578,209 shares of the company’s stock, valued at $405,628,045.15. The trade was a 9.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 26.56% of the company’s stock.

Institutional Trading of Amneal Pharmaceuticals

Several hedge funds have recently made changes to their positions in AMRX. GAMMA Investing LLC grew its stake in shares of Amneal Pharmaceuticals by 5,975.0% in the first quarter. GAMMA Investing LLC now owns 3,159 shares of the company’s stock worth $26,000 after acquiring an additional 3,107 shares in the last quarter. Amalgamated Bank boosted its holdings in Amneal Pharmaceuticals by 33.0% in the first quarter. Amalgamated Bank now owns 5,511 shares of the company’s stock valued at $46,000 after purchasing an additional 1,367 shares during the period. GF Fund Management CO. LTD. purchased a new position in Amneal Pharmaceuticals in the fourth quarter valued at $52,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Amneal Pharmaceuticals during the 4th quarter worth $81,000. Finally, Straightline Group LLC purchased a new stake in Amneal Pharmaceuticals during the 4th quarter worth about $92,000. 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.