JPMorgan Chase & Co. Upgrades Amneal Pharmaceuticals (NASDAQ:AMRX) to “Overweight”

Amneal Pharmaceuticals (NASDAQ:AMRX) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage currently has a $12.00 price target on the stock, up from their prior price target of $9.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 41.18% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. StockNews.com lowered shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. Piper Sandler lifted their target price on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $10.60.

Amneal Pharmaceuticals Stock Up 2.4 %

NASDAQ:AMRX opened at $8.50 on Monday. Amneal Pharmaceuticals has a 52 week low of $5.01 and a 52 week high of $9.48. The company has a market cap of $2.63 billion, a PE ratio of -12.50 and a beta of 1.10. The business’s 50 day moving average is $8.06 and its two-hundred day moving average is $8.31.

Insider Transactions at Amneal Pharmaceuticals

In other Amneal Pharmaceuticals news, Director Gautam Patel sold 80,000 shares of Amneal Pharmaceuticals stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $8.14, for a total transaction of $651,200.00. Following the transaction, the director now directly owns 1,888,886 shares in the company, valued at approximately $15,375,532.04. The trade was a 4.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 160,000 shares of company stock valued at $1,292,000 over the last ninety days. Corporate insiders own 17.46% of the company’s stock.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Gladius Capital Management LP acquired a new position in Amneal Pharmaceuticals in the 3rd quarter valued at approximately $37,000. GF Fund Management CO. LTD. acquired a new stake in Amneal Pharmaceuticals during the fourth quarter valued at $52,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Amneal Pharmaceuticals in the 4th quarter worth about $81,000. Quest Partners LLC acquired a new stake in shares of Amneal Pharmaceuticals during the 3rd quarter valued at about $84,000. Finally, Straightline Group LLC acquired a new position in Amneal Pharmaceuticals in the fourth quarter worth approximately $92,000. 31.82% of the stock is currently owned by institutional investors and hedge funds.

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.