Amneal Pharmaceuticals (NASDAQ:AMRX) Sets New 1-Year High – Time to Buy?

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $8.95 and last traded at $8.93, with a volume of 64270 shares traded. The stock had previously closed at $8.81.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMRX. Barclays boosted their price target on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Truist Financial upped their price target on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. raised 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. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Amneal Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $9.40.

Amneal Pharmaceuticals Trading Down 0.9 %

The company has a market cap of $2.69 billion, a PE ratio of -15.73 and a beta of 1.18. The business has a 50 day simple moving average of $8.37 and a two-hundred day simple moving average of $7.21.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its quarterly earnings results on Friday, August 9th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $701.78 million for the quarter, compared to analyst estimates of $657.43 million. On average, equities research analysts expect that Amneal Pharmaceuticals, Inc. will post 0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of AMRX. Rothschild Investment LLC acquired a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at $26,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Amneal Pharmaceuticals in the 2nd quarter worth $42,000. Atlanta Consulting Group Advisors LLC acquired a new position in Amneal Pharmaceuticals in the first quarter valued at $61,000. nVerses Capital LLC acquired a new position in Amneal Pharmaceuticals in the second quarter valued at $62,000. Finally, Bayesian Capital Management LP purchased a new stake in Amneal Pharmaceuticals during the first quarter valued at about $65,000. Institutional investors and hedge funds own 31.82% of the company’s stock.

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.