Brokerages Set Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) PT at $10.00

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) has been given an average recommendation of “Moderate Buy” by the five brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $10.00.

AMRX has been the subject of several analyst reports. Piper Sandler upped their price objective on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. raised 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. Truist Financial increased 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, StockNews.com downgraded shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday.

Insiders Place Their Bets

In related news, SVP Jason B. Daly sold 43,657 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $8.61, for a total transaction of $375,886.77. Following the transaction, the senior vice president now owns 13,665 shares of the company’s stock, valued at $117,655.65. This trade represents a 76.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 26.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Amneal Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Rothschild Investment LLC purchased a new stake in shares of Amneal Pharmaceuticals during the second quarter worth approximately $26,000. Gladius Capital Management LP acquired a new position in Amneal Pharmaceuticals in the 3rd quarter valued at $37,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Amneal Pharmaceuticals in the 2nd quarter worth $42,000. nVerses Capital LLC acquired a new stake in shares of Amneal Pharmaceuticals in the 2nd quarter worth $62,000. Finally, Xponance Inc. purchased a new stake in shares of Amneal Pharmaceuticals in the second quarter valued at about $65,000. 31.82% of the stock is owned by institutional investors and hedge funds.

Amneal Pharmaceuticals Price Performance

NASDAQ:AMRX opened at $7.75 on Friday. Amneal Pharmaceuticals has a 12 month low of $5.01 and a 12 month high of $9.48. The firm has a market capitalization of $2.40 billion, a PE ratio of -11.40 and a beta of 1.12. The business’s fifty day moving average price is $8.43 and its 200 day moving average price is $7.92.

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.