Amneal Pharmaceuticals (NASDAQ:AMRX) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Amneal Pharmaceuticals (NASDAQ:AMRX) from a buy rating to a strong-buy rating in a report released on Monday morning.

Other equities analysts have also issued reports about the stock. Barclays increased their price objective on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $9.00 to $12.00 in a research note on Monday, February 24th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $10.80.

Amneal Pharmaceuticals Stock Performance

Shares of NASDAQ:AMRX opened at $7.54 on Monday. The business has a fifty day moving average of $8.01 and a 200-day moving average of $8.15. Amneal Pharmaceuticals has a twelve month low of $6.29 and a twelve month high of $9.48. The firm has a market cap of $2.34 billion, a PE ratio of -11.09 and a beta of 1.17.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its earnings results on Friday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. The company had revenue of $695.42 million during the quarter, compared to the consensus estimate of $714.78 million. Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. On average, analysts anticipate that Amneal Pharmaceuticals will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling at Amneal Pharmaceuticals

In related news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $8.35, for a total transaction of $41,750,000.00. Following the completion of the transaction, the insider now directly owns 48,578,209 shares in the company, valued at $405,628,045.15. This represents a 9.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gautam Patel sold 80,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $8.90, for a total value of $712,000.00. Following the sale, the director now directly owns 1,808,886 shares in the company, valued at approximately $16,099,085.40. This trade represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 26.56% of the company’s stock.

Institutional Investors Weigh In On Amneal Pharmaceuticals

A number of institutional investors have recently made changes to their positions in AMRX. Vanguard Group Inc. lifted its stake in shares of Amneal Pharmaceuticals by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 14,841,969 shares of the company’s stock worth $117,548,000 after acquiring an additional 218,025 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Amneal Pharmaceuticals by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,991,702 shares of the company’s stock worth $39,531,000 after purchasing an additional 278,653 shares during the period. Geode Capital Management LLC boosted its stake in shares of Amneal Pharmaceuticals by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 3,813,207 shares of the company’s stock valued at $30,207,000 after purchasing an additional 26,536 shares during the last quarter. Nantahala Capital Management LLC increased its position in shares of Amneal Pharmaceuticals by 37.3% during the fourth quarter. Nantahala Capital Management LLC now owns 3,665,529 shares of the company’s stock worth $29,031,000 after buying an additional 995,586 shares during the period. Finally, BlackBarn Capital Partners LP raised its stake in Amneal Pharmaceuticals by 18.2% during the fourth quarter. BlackBarn Capital Partners LP now owns 2,850,000 shares of the company’s stock worth $22,572,000 after buying an additional 438,388 shares during the last quarter. Institutional investors 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.