The Goldman Sachs Group Boosts Amneal Pharmaceuticals (NASDAQ:AMRX) Price Target to $8.00

Amneal Pharmaceuticals (NASDAQ:AMRX) had its target price lifted by stock analysts at The Goldman Sachs Group from $6.25 to $8.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 22.89% from the company’s previous close.

Several other research firms also recently commented on AMRX. Piper Sandler upped their price objective on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Barclays raised 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. Truist Financial reissued a “buy” rating and set a $9.00 target price (up previously from $7.00) on shares of Amneal Pharmaceuticals in a report on Monday. Finally, StockNews.com lowered Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, March 4th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Amneal Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $8.25.

Amneal Pharmaceuticals Stock Down 2.1 %

Amneal Pharmaceuticals stock opened at $6.51 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 121.31. The company has a market capitalization of $2.00 billion, a P/E ratio of -11.62 and a beta of 1.33. The firm has a 50 day moving average price of $5.79 and a 200-day moving average price of $5.34. Amneal Pharmaceuticals has a twelve month low of $1.74 and a twelve month high of $6.90.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its earnings results on Friday, March 1st. The company reported $0.12 earnings per share (EPS) for the quarter, topping 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 business had revenue of $616.98 million during the quarter, compared to the consensus estimate of $630.67 million. As a group, equities analysts predict that Amneal Pharmaceuticals will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Aigen Investment Management LP purchased a new position in shares of Amneal Pharmaceuticals in the 3rd quarter worth about $118,000. Assenagon Asset Management S.A. boosted its stake in Amneal Pharmaceuticals by 122.4% in the third quarter. Assenagon Asset Management S.A. now owns 515,233 shares of the company’s stock worth $2,174,000 after buying an additional 283,524 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Amneal Pharmaceuticals by 27.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 492,304 shares of the company’s stock valued at $2,078,000 after acquiring an additional 107,090 shares during the last quarter. Caxton Associates LP purchased a new position in Amneal Pharmaceuticals in the 3rd quarter worth $508,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Amneal Pharmaceuticals during the third quarter valued at about $160,000. Institutional investors 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.