Amneal Pharmaceuticals (NASDAQ:AMRX) Sets New 1-Year High at $6.90

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $6.90 and last traded at $6.75, with a volume of 2129877 shares changing hands. The stock had previously closed at $6.21.

Analyst Upgrades and Downgrades

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

Amneal Pharmaceuticals Stock Performance

The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -21.81 and a beta of 1.33. The company has a debt-to-equity ratio of 121.31, a current ratio of 1.63 and a quick ratio of 0.94. The firm has a fifty day simple moving average of $5.76 and a two-hundred day simple moving average of $5.27.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its quarterly earnings results on Friday, March 1st. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The business had revenue of $616.98 million for 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, analysts expect that Amneal Pharmaceuticals, Inc. will post 0.5 EPS for the current year.

Institutional Trading of Amneal Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMRX. Principal Financial Group Inc. increased its holdings in shares of Amneal Pharmaceuticals by 10.3% in the third quarter. Principal Financial Group Inc. now owns 54,432 shares of the company’s stock valued at $230,000 after purchasing an additional 5,092 shares during the period. Gladius Capital Management LP purchased a new stake in Amneal Pharmaceuticals in the third quarter valued at approximately $39,000. Trexquant Investment LP acquired a new position in Amneal Pharmaceuticals in the 4th quarter worth approximately $65,000. Sherbrooke Park Advisers LLC purchased a new position in Amneal Pharmaceuticals during the 3rd quarter worth approximately $54,000. Finally, TCG Advisory Services LLC acquired a new stake in Amneal Pharmaceuticals during the 4th quarter valued at approximately $91,000. 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.