Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Receives Consensus Rating of "Buy" from Brokerages

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report) has been assigned an average recommendation of "Buy" from the five research firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have covered the stock in the last year is $11.60.

A number of analysts have recently issued reports on AMRX shares. JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $9.00 to $12.00 in a report on Monday, February 24th. The Goldman Sachs Group began coverage on Amneal Pharmaceuticals in a research note on Friday. They set a "buy" rating and a $12.00 price target for the company. Wall Street Zen cut Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Tuesday, May 13th. Finally, Barclays raised their price objective on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an "overweight" rating in a report on Monday, March 3rd.

Insider Activity

In related news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of Amneal Pharmaceuticals stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.35, for a total value of $41,750,000.00. Following the transaction, the insider now directly owns 48,578,209 shares of the company's stock, valued at $405,628,045.15. The trade was a 9.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 26.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in Amneal Pharmaceuticals by 134.1% in the 3rd quarter. Barclays PLC now owns 296,384 shares of the company's stock worth $2,466,000 after buying an additional 169,756 shares during the period. Janney Montgomery Scott LLC bought a new stake in Amneal Pharmaceuticals in the fourth quarter valued at $121,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Amneal Pharmaceuticals during the 4th quarter valued at $81,000. Entropy Technologies LP purchased a new position in Amneal Pharmaceuticals during the 4th quarter valued at $259,000. Finally, Stonebridge Financial Group LLC bought a new position in Amneal Pharmaceuticals in the 4th quarter worth $286,000. Institutional investors own 31.82% of the company's stock.

Amneal Pharmaceuticals Stock Up 2.7%

Shares of NASDAQ:AMRX traded up $0.20 during midday trading on Friday, reaching $7.37. 711,201 shares of the company traded hands, compared to its average volume of 1,444,981. Amneal Pharmaceuticals has a 12 month low of $6.29 and a 12 month high of $9.48. The firm's fifty day moving average price is $7.39 and its two-hundred day moving average price is $7.96. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of -10.83 and a beta of 1.17.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.14 by $0.05. Amneal Pharmaceuticals had a negative return on equity of 346.26% and a negative net margin of 6.88%. The business had revenue of $695.42 million during the quarter, compared to analysts' expectations of $714.78 million. Analysts forecast that Amneal Pharmaceuticals will post 0.53 earnings per share for the current year.

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.

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