Amneal Pharmaceuticals (NYSE:AMRX) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Amneal Pharmaceuticals (NYSE:AMRX – Get Rating) from a hold rating to a buy rating in a report released on Monday.

AMRX has been the topic of a number of other reports. Piper Sandler lowered their price objective on Amneal Pharmaceuticals from $5.00 to $3.00 in a research report on Monday. The Goldman Sachs Group dropped their price objective on shares of Amneal Pharmaceuticals from $3.50 to $3.00 and set a buy rating for the company in a research note on Friday, March 3rd. BMO Capital Markets decreased their target price on shares of Amneal Pharmaceuticals from $5.00 to $4.00 and set a market perform rating on the stock in a research report on Friday, March 3rd. 500.com reissued a maintains rating on shares of Amneal Pharmaceuticals in a research note on Monday. Finally, Truist Financial cut their price target on shares of Amneal Pharmaceuticals from $5.00 to $4.00 and set a buy rating for the company in a research note on Wednesday, March 29th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $3.60.

Amneal Pharmaceuticals Price Performance

NYSE:AMRX opened at $2.02 on Monday. The company has a debt-to-equity ratio of 14.30, a current ratio of 1.88 and a quick ratio of 1.17. Amneal Pharmaceuticals has a one year low of $1.24 and a one year high of $3.77. The company has a fifty day moving average price of $1.58 and a 200 day moving average price of $2.04. The stock has a market cap of $613.31 million, a P/E ratio of -2.24, a PEG ratio of 0.18 and a beta of 1.33.

Amneal Pharmaceuticals (NYSE:AMRX – Get Rating) last released its earnings results on Friday, May 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Amneal Pharmaceuticals had a negative net margin of 5.88% and a positive return on equity of 76.11%. The business had revenue of $557.54 million during the quarter, compared to analysts’ expectations of $555.00 million. During the same quarter last year, the company earned $0.10 earnings per share. Analysts anticipate that Amneal Pharmaceuticals will post 0.42 earnings per share for the current year.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley raised its stake in shares of Amneal Pharmaceuticals by 935.8% in the fourth quarter. Morgan Stanley now owns 4,220,998 shares of the company’s stock valued at $8,400,000 after acquiring an additional 3,813,489 shares during the last quarter. Millennium Management LLC raised its position in Amneal Pharmaceuticals by 153.3% in the 4th quarter. Millennium Management LLC now owns 5,013,378 shares of the company’s stock valued at $9,977,000 after purchasing an additional 3,034,426 shares during the last quarter. Norges Bank acquired a new position in Amneal Pharmaceuticals in the fourth quarter worth $5,402,000. Vanguard Group Inc. grew its holdings in shares of Amneal Pharmaceuticals by 10.8% during the first quarter. Vanguard Group Inc. now owns 12,830,372 shares of the company’s stock worth $53,504,000 after purchasing an additional 1,255,477 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Amneal Pharmaceuticals by 119.7% in the fourth quarter. AQR Capital Management LLC now owns 2,136,252 shares of the company’s stock valued at $4,251,000 after buying an additional 1,164,091 shares in the last quarter. 32.79% of the stock is currently owned by institutional investors and hedge funds.

Amneal Pharmaceuticals Company Profile

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Amneal Pharmaceuticals, Inc is a pharmaceutical company, which engages in the development, manufacture, market and distribution of generic pharmaceutical products. It operates through the Generic, Specialty and AvKARE Segments. The Generics segment develops, manufactures and commercializes complex oral solids, injectables, ophthalmics, liquids, topicals, softgels, inhalation products and transdermals.