Brokerages Set Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Price Target at $10.80

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) have earned an average recommendation of “Buy” from the five research firms that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have covered the stock in the last year is $10.80.

A number of research analysts recently commented on the company. Barclays upped their price objective on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $9.00 to $12.00 in a research report on Monday, February 24th. Finally, StockNews.com downgraded shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th.

Amneal Pharmaceuticals Stock Performance

Amneal Pharmaceuticals stock opened at $8.27 on Tuesday. Amneal Pharmaceuticals has a 1 year low of $5.18 and a 1 year high of $9.48. The firm’s 50-day moving average is $8.42 and its 200-day moving average is $8.37. The company has a market cap of $2.56 billion, a P/E ratio of -12.16 and a beta of 1.05.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its earnings results on Friday, February 28th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). The company had revenue of $730.52 million during the quarter, compared to analyst estimates of $708.21 million. Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. During the same quarter in the previous year, the firm earned $0.14 earnings per share. As a group, sell-side analysts predict that Amneal Pharmaceuticals will post 0.53 earnings per share for the current year.

Insider Transactions at Amneal Pharmaceuticals

In related news, Director Gautam Patel sold 62,590 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $8.01, for a total transaction of $501,345.90. Following the sale, the director now owns 1,968,886 shares of the company’s stock, valued at $15,770,776.86. The trade was a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.35, for a total value of $41,750,000.00. Following the transaction, the insider now directly owns 48,578,209 shares of the company’s stock, valued at approximately $405,628,045.15. The trade was a 9.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,240,000 shares of company stock valued at $43,754,000. 26.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Amneal Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in Amneal Pharmaceuticals by 149.7% in the third quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company’s stock worth $10,792,000 after acquiring an additional 777,568 shares in the last quarter. Barclays PLC raised its holdings in shares of Amneal Pharmaceuticals by 134.1% in the 3rd quarter. Barclays PLC now owns 296,384 shares of the company’s stock worth $2,466,000 after purchasing an additional 169,756 shares in the last quarter. State Street Corp lifted its stake in Amneal Pharmaceuticals by 3.8% during the third quarter. State Street Corp now owns 3,514,721 shares of the company’s stock valued at $29,242,000 after purchasing an additional 127,753 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Amneal Pharmaceuticals during the fourth quarter valued at approximately $520,000. Finally, Geode Capital Management LLC boosted its holdings in Amneal Pharmaceuticals by 11.1% during the third quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock worth $31,511,000 after buying an additional 378,136 shares in the last quarter. 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.