Amneal Pharmaceuticals (NASDAQ:AMRX) Stock Rating Reaffirmed by Truist Financial

Amneal Pharmaceuticals (NASDAQ:AMRX)‘s stock had its “buy” rating restated by equities researchers at Truist Financial in a research report issued on Monday, Benzinga reports. They currently have a $9.00 target price on the stock, up from their prior target price of $7.00. Truist Financial’s price target indicates a potential upside of 38.25% from the company’s current price.

Several other analysts have also recently commented on the company. Barclays upped their target price on Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Monday, January 29th. The Goldman Sachs Group lifted their target price on shares of Amneal Pharmaceuticals from $5.50 to $6.25 and gave the stock a “buy” rating in a research note on Monday, March 4th. StockNews.com cut shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 4th. Finally, Piper Sandler boosted their price objective on Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $8.25.

Amneal Pharmaceuticals Stock Performance

Shares of Amneal Pharmaceuticals stock opened at $6.51 on Monday. The company has a 50 day moving average of $5.79 and a 200-day moving average of $5.34. The company has a market cap of $2.00 billion, a PE ratio of -11.62 and a beta of 1.33. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 121.31. Amneal Pharmaceuticals has a 1-year low of $1.74 and a 1-year high of $6.90.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued 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. Amneal Pharmaceuticals had a positive return on equity of 234.06% and a negative net margin of 6.76%. The firm had revenue of $616.98 million for the quarter, compared to the consensus estimate of $630.67 million. As a group, equities research analysts forecast that Amneal Pharmaceuticals will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Several institutional investors have recently made changes to their positions in AMRX. Rubric Capital Management LP increased its position in Amneal Pharmaceuticals by 98.8% in the 4th quarter. Rubric Capital Management LP now owns 8,000,000 shares of the company’s stock valued at $48,560,000 after buying an additional 3,975,500 shares in the last quarter. Phocas Financial Corp. acquired a new position in shares of Amneal Pharmaceuticals during the fourth quarter worth approximately $4,339,000. Hillsdale Investment Management Inc. lifted its holdings in shares of Amneal Pharmaceuticals by 1,240.3% in the 4th quarter. Hillsdale Investment Management Inc. now owns 584,619 shares of the company’s stock worth $3,549,000 after purchasing an additional 541,000 shares in the last quarter. Vanguard Group Inc. grew its position in Amneal Pharmaceuticals by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 13,548,300 shares of the company’s stock valued at $57,174,000 after purchasing an additional 412,599 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Amneal Pharmaceuticals by 271.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 546,537 shares of the company’s stock valued at $3,312,000 after purchasing an additional 399,492 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.