AMNEAL PHARMACEUTICALS (NASDAQ:AMRX) Sets New 52-Week High – Time to Buy?

AMNEAL PHARMACEUTICALS, INC. (NASDAQ:AMRX) shares reached a new 52-week high on Friday . The stock traded as high as $9.59 and last traded at $9.45, with a volume of 180815 shares. The stock had previously closed at $9.39.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AMRX shares. Wall Street Zen lowered shares of AMNEAL PHARMACEUTICALS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 13th. The Goldman Sachs Group began coverage on AMNEAL PHARMACEUTICALS in a report on Friday, June 6th. They issued a “buy” rating and a $12.00 price objective for the company. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $11.60.

AMNEAL PHARMACEUTICALS Price Performance

The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 945.95 and a beta of 1.11. The stock’s fifty day simple moving average is $8.21 and its two-hundred day simple moving average is $7.97.

AMNEAL PHARMACEUTICALS (NASDAQ:AMRX) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. AMNEAL PHARMACEUTICALS had a net margin of 0.12% and a negative return on equity of 189.49%. On average, sell-side analysts predict that AMNEAL PHARMACEUTICALS, INC. will post 0.53 EPS for the current year.

Insider Activity

In related news, EVP Jason B. Daly sold 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $9.05, for a total value of $199,100.00. Following the sale, the executive vice president owned 10,606 shares of the company’s stock, valued at approximately $95,984.30. This trade represents a 67.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nikita Shah sold 71,694 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $9.29, for a total value of $666,037.26. Following the transaction, the executive vice president owned 267,235 shares of the company’s stock, valued at $2,482,613.15. This represents a 21.15% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,130 shares of company stock valued at $1,619,733. 26.56% of the stock is currently owned by insiders.

Institutional Trading of AMNEAL PHARMACEUTICALS

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in AMNEAL PHARMACEUTICALS by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 15,762,727 shares of the company’s stock worth $132,092,000 after purchasing an additional 920,758 shares during the last quarter. Rubric Capital Management LP boosted its position in shares of AMNEAL PHARMACEUTICALS by 9.1% during the second quarter. Rubric Capital Management LP now owns 11,710,332 shares of the company’s stock worth $94,737,000 after buying an additional 974,355 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of AMNEAL PHARMACEUTICALS by 5.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,991,702 shares of the company’s stock worth $39,531,000 after buying an additional 278,653 shares during the period. Nantahala Capital Management LLC grew its holdings in AMNEAL PHARMACEUTICALS by 14.7% in the 2nd quarter. Nantahala Capital Management LLC now owns 4,367,438 shares of the company’s stock worth $35,333,000 after buying an additional 558,877 shares in the last quarter. Finally, BlackBarn Capital Partners LP increased its position in AMNEAL PHARMACEUTICALS by 19.6% in the 2nd quarter. BlackBarn Capital Partners LP now owns 3,446,570 shares of the company’s stock valued at $27,883,000 after acquiring an additional 564,916 shares during the period. Institutional investors and hedge funds own 31.82% of the company’s stock.

AMNEAL PHARMACEUTICALS Company Profile

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.