Analysts Set Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Target Price at $10.00

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) have been given a consensus recommendation of “Moderate Buy” by the five brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $10.00.

AMRX has been the topic of several research analyst reports. JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price objective on the stock in a research note on Friday, September 6th. StockNews.com upgraded Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th. Truist Financial lifted their price objective on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Piper Sandler increased their target price on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, Barclays raised their target price on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th.

Insider Transactions at Amneal Pharmaceuticals

In related news, SVP Jason B. Daly sold 43,657 shares of Amneal Pharmaceuticals stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $8.61, for a total value of $375,886.77. Following the completion of the sale, the senior vice president now directly owns 13,665 shares in the company, valued at $117,655.65. This trade represents a 76.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in Amneal Pharmaceuticals by 11.1% in the third quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock valued at $31,511,000 after acquiring an additional 378,136 shares during the last quarter. Barclays PLC boosted its position 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 during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Amneal Pharmaceuticals during the third quarter worth $311,000. Wellington Management Group LLP bought a new stake in Amneal Pharmaceuticals in the third quarter valued at about $687,000. Finally, State Street Corp lifted its stake in Amneal Pharmaceuticals by 3.8% in the third quarter. State Street Corp now owns 3,514,721 shares of the company’s stock valued at $29,242,000 after buying an additional 127,753 shares during the period. Institutional investors and hedge funds own 31.82% of the company’s stock.

Amneal Pharmaceuticals Stock Performance

Shares of NASDAQ:AMRX opened at $8.25 on Wednesday. The company’s fifty day moving average is $8.55 and its 200-day moving average is $7.76. Amneal Pharmaceuticals has a 52 week low of $4.16 and a 52 week high of $9.48. The company has a market capitalization of $2.56 billion, a PE ratio of -12.13 and a beta of 1.17.

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.