Truist Financial Boosts Amneal Pharmaceuticals (NASDAQ:AMRX) Price Target to $12.00

Amneal Pharmaceuticals (NASDAQ:AMRX) had its price objective raised by Truist Financial from $10.00 to $12.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also weighed in on AMRX. Barclays increased their target price on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock 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 target price on the stock in a report on Friday, September 6th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $9.40.

Amneal Pharmaceuticals Stock Performance

Shares of AMRX opened at $8.65 on Wednesday. Amneal Pharmaceuticals has a 12 month low of $3.36 and a 12 month high of $8.94. The stock has a 50 day moving average of $8.16 and a 200 day moving average of $7.07. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -15.45 and a beta of 1.18. The company has a current ratio of 1.33, a quick ratio of 0.82 and a debt-to-equity ratio of 121.31.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its quarterly earnings data on Friday, August 9th. The company reported $0.15 earnings per share (EPS) for the quarter, beating 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 company had revenue of $701.78 million during the quarter, compared to analyst estimates of $657.43 million. As a group, sell-side analysts forecast that Amneal Pharmaceuticals will post 0.52 earnings per share for the current year.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Large investors have recently made changes to their positions in the business. Rothschild Investment LLC purchased a new position in shares of Amneal Pharmaceuticals in the second quarter valued at $26,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Amneal Pharmaceuticals during the second quarter valued at about $42,000. nVerses Capital LLC purchased a new stake in Amneal Pharmaceuticals during the second quarter valued at approximately $62,000. Atlanta Consulting Group Advisors LLC purchased a new position in Amneal Pharmaceuticals in the first quarter worth $61,000. Finally, Xponance Inc. acquired a new position in Amneal Pharmaceuticals during the 2nd quarter valued at about $65,000. 31.82% of the stock is currently owned by hedge funds and other institutional investors.

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.