Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Receives Average Recommendation of “Buy” from Brokerages

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) have earned an average recommendation of “Buy” from the five ratings firms that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $10.60.

Several equities analysts recently commented on AMRX shares. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and upped their target price for the company from $9.00 to $12.00 in a research note on Monday. Piper Sandler upped their target price on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Finally, StockNews.com lowered Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th.

Insider Buying and Selling at Amneal Pharmaceuticals

In other Amneal Pharmaceuticals news, Director Gautam Patel sold 62,590 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $8.01, for a total transaction of $501,345.90. Following the completion of the sale, the director now owns 1,968,886 shares of the company’s stock, valued at approximately $15,770,776.86. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 160,000 shares of company stock valued at $1,292,000. Company insiders own 26.56% of the company’s stock.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Gladius Capital Management LP purchased a new stake in Amneal Pharmaceuticals during the third quarter valued at about $37,000. GF Fund Management CO. LTD. purchased a new stake in shares of Amneal Pharmaceuticals in the fourth quarter worth about $52,000. Quest Partners LLC purchased a new stake in shares of Amneal Pharmaceuticals in the third quarter worth about $84,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Amneal Pharmaceuticals in the fourth quarter worth about $81,000. Finally, Straightline Group LLC purchased a new stake in shares of Amneal Pharmaceuticals in the fourth quarter worth about $92,000. Hedge funds and other institutional investors own 31.82% of the company’s stock.

Amneal Pharmaceuticals Stock Down 0.6 %

NASDAQ AMRX opened at $8.38 on Friday. Amneal Pharmaceuticals has a fifty-two week low of $5.01 and a fifty-two week high of $9.48. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of -12.32 and a beta of 1.10. The business has a fifty day moving average of $8.08 and a 200-day moving average of $8.31.

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.