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

Key Points

• Amneal Pharmaceuticals has received a consensus rating of "Buy" from five analysts, with an average target price of $11.60.
• Institutional investors now own 31.82% of Amneal's stock, with notable increases from several hedge funds in the first quarter.
• The company's recent earnings report showed an EPS of $0.19, exceeding expectations, despite a revenue shortfall of $695.42 million.

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report) have received an average rating of "Buy" from the five analysts that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have covered the stock in the last year is $11.60.

A number of analysts have recently commented on AMRX shares. The Goldman Sachs Group started coverage on shares of Amneal Pharmaceuticals in a report on Friday, June 6th. They set a "buy" rating and a $12.00 target price on the stock. Wall Street Zen cut shares of Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, May 13th.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Amneal Pharmaceuticals by 5,975.0% in the 1st quarter. GAMMA Investing LLC now owns 3,159 shares of the company's stock worth $26,000 after buying an additional 3,107 shares during the last quarter. Headlands Technologies LLC purchased a new position in Amneal Pharmaceuticals in the 1st quarter worth about $31,000. Amalgamated Bank raised its position in Amneal Pharmaceuticals by 33.0% in the 1st quarter. Amalgamated Bank now owns 5,511 shares of the company's stock worth $46,000 after buying an additional 1,367 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in Amneal Pharmaceuticals in the 4th quarter worth about $52,000. Finally, Straightline Group LLC purchased a new position in Amneal Pharmaceuticals in the 4th quarter worth about $92,000. Institutional investors own 31.82% of the company's stock.

Amneal Pharmaceuticals Trading Up 0.8%

Shares of AMRX stock opened at $8.06 on Friday. Amneal Pharmaceuticals has a 12 month low of $6.50 and a 12 month high of $9.48. The stock has a market cap of $2.53 billion, a PE ratio of -201.45 and a beta of 1.06. The company's fifty day moving average price is $7.87 and its 200-day moving average price is $7.96.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last announced its earnings results on Friday, May 2nd. The company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.05. Amneal Pharmaceuticals had a negative net margin of 0.46% and a negative return on equity of 188.26%. The firm had revenue of $695.42 million for the quarter, compared to analysts' expectations of $714.78 million. On average, sell-side analysts forecast that Amneal Pharmaceuticals will post 0.53 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.