Amneal Pharmaceuticals (NASDAQ:AMRX) Sets New 12-Month High on Analyst Upgrade

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) shares hit a new 52-week high during trading on Monday after StockNews.com upgraded the stock from a buy rating to a strong-buy rating. The stock traded as high as $9.10 and last traded at $9.06, with a volume of 469675 shares changing hands. The stock had previously closed at $8.73.

Several other equities research analysts have also commented on AMRX. JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price target for the company in a report on Friday, September 6th. Barclays boosted their target price on shares of 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 raised their price target on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler boosted their price target on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $10.00.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of AMRX. Rothschild Investment LLC purchased a new stake in shares of Amneal Pharmaceuticals in the 2nd quarter valued at approximately $26,000. Gladius Capital Management LP acquired a new position in Amneal Pharmaceuticals in the third quarter valued at approximately $37,000. DekaBank Deutsche Girozentrale purchased a new position in Amneal Pharmaceuticals in the second quarter worth approximately $42,000. nVerses Capital LLC acquired a new stake in Amneal Pharmaceuticals during the second quarter worth $62,000. Finally, Atlanta Consulting Group Advisors LLC purchased a new stake in Amneal Pharmaceuticals in the first quarter valued at $61,000. 31.82% of the stock is currently owned by institutional investors and hedge funds.

Amneal Pharmaceuticals Stock Performance

The firm has a market cap of $2.86 billion, a price-to-earnings ratio of -13.53 and a beta of 1.17. The company has a 50 day moving average price of $8.54 and a 200 day moving average price of $7.59.

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.