Amneal Pharmaceuticals (NASDAQ:AMRX) Upgraded to Neutral by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals (NASDAQ:AMRX) from an underweight rating to a neutral rating in a research report sent to investors on Friday, Marketbeat reports. They currently have $9.00 price objective on the stock.

Other analysts also recently issued research reports about the stock. Truist Financial boosted their price objective on shares of Amneal Pharmaceuticals from $9.00 to $10.00 and gave the company a buy rating in a report on Monday, August 12th. Barclays lifted their price target on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an overweight rating in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $9.00.

Amneal Pharmaceuticals Trading Up 0.8 %

Shares of AMRX stock opened at $8.46 on Friday. Amneal Pharmaceuticals has a 12-month low of $3.36 and a 12-month high of $8.72. The company has a market capitalization of $2.62 billion, a PE ratio of -15.11 and a beta of 1.18. The firm has a 50 day moving average price of $7.63 and a two-hundred day moving average price of $6.69. The company has a quick ratio of 0.82, a current ratio of 1.33 and a debt-to-equity ratio of 121.31.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its quarterly earnings results on Friday, August 9th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. Amneal Pharmaceuticals had a positive return on equity of 1,235.03% and a negative net margin of 6.72%. The business had revenue of $701.78 million during the quarter, compared to analysts’ expectations of $657.43 million. As a group, analysts predict that Amneal Pharmaceuticals will post 0.52 earnings per share for the current year.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Amneal Pharmaceuticals by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 13,728,233 shares of the company’s stock worth $83,193,000 after acquiring an additional 85,846 shares in the last quarter. Sanders Morris Harris LLC acquired a new stake in shares of Amneal Pharmaceuticals in the 1st quarter valued at $1,513,000. Hillsdale Investment Management Inc. increased its stake in shares of Amneal Pharmaceuticals by 19.7% in the 1st quarter. Hillsdale Investment Management Inc. now owns 699,719 shares of the company’s stock valued at $4,240,000 after purchasing an additional 115,100 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Amneal Pharmaceuticals by 417.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 36,106 shares of the company’s stock worth $218,000 after buying an additional 29,133 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Amneal Pharmaceuticals by 3,279.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 228,917 shares of the company’s stock worth $1,454,000 after buying an additional 222,144 shares during the last quarter. 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.