Allspring Global Investments Holdings LLC Sells 146,925 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Allspring Global Investments Holdings LLC reduced its stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 51.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 137,764 shares of the company’s stock after selling 146,925 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Amneal Pharmaceuticals were worth $836,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Aigen Investment Management LP bought a new stake in shares of Amneal Pharmaceuticals in the 3rd quarter worth approximately $118,000. Assenagon Asset Management S.A. boosted its position in shares of Amneal Pharmaceuticals by 122.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 515,233 shares of the company’s stock worth $2,174,000 after purchasing an additional 283,524 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Amneal Pharmaceuticals by 27.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 492,304 shares of the company’s stock worth $2,078,000 after purchasing an additional 107,090 shares in the last quarter. Caxton Associates LP bought a new stake in shares of Amneal Pharmaceuticals in the 3rd quarter worth approximately $508,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Amneal Pharmaceuticals in the 3rd quarter worth approximately $160,000. 31.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. The Goldman Sachs Group boosted their price target on Amneal Pharmaceuticals from $5.50 to $6.25 and gave the stock a “buy” rating in a research report on Monday, March 4th. Barclays boosted their price objective on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Piper Sandler boosted their price objective on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Finally, StockNews.com lowered shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, March 4th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Amneal Pharmaceuticals currently has an average rating of “Buy” and an average price target of $7.31.

Amneal Pharmaceuticals Price Performance

Shares of AMRX opened at $6.05 on Thursday. The firm has a market cap of $1.86 billion, a PE ratio of -19.52 and a beta of 1.33. The company has a current ratio of 1.63, a quick ratio of 0.94 and a debt-to-equity ratio of 121.31. The firm has a fifty day simple moving average of $5.72 and a two-hundred day simple moving average of $5.17. Amneal Pharmaceuticals, Inc. has a 1-year low of $1.64 and a 1-year high of $6.46.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its earnings results on Friday, March 1st. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The business had revenue of $616.98 million during the quarter, compared to analyst estimates of $630.67 million. Amneal Pharmaceuticals had a negative net margin of 3.51% and a positive return on equity of 126.04%. On average, equities analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.5 EPS for the current year.

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.