Amneal Pharmaceuticals (NASDAQ:AMRX) Downgraded to "Buy" Rating by StockNews.com

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research report issued on Tuesday.

Other research analysts have also recently issued reports about the company. Barclays increased their price target on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an "overweight" rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a "neutral" rating to an "overweight" rating and increased their price target for the company from $9.00 to $12.00 in a research report on Monday, February 24th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Amneal Pharmaceuticals presently has an average rating of "Buy" and an average target price of $11.50.

Amneal Pharmaceuticals Price Performance

AMRX stock opened at $7.60 on Tuesday. The stock has a market capitalization of $2.36 billion, a P/E ratio of -11.18 and a beta of 1.17. The business has a 50-day moving average of $7.87 and a 200-day moving average of $8.12. Amneal Pharmaceuticals has a fifty-two week low of $6.29 and a fifty-two week high of $9.48.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.05. The business had revenue of $695.42 million for the quarter, compared to analyst estimates of $714.78 million. Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. Equities analysts expect that Amneal Pharmaceuticals will post 0.53 EPS for the current year.

Insider Buying and Selling

In other news, Director Gautam Patel sold 80,000 shares of Amneal Pharmaceuticals stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $8.90, for a total value of $712,000.00. Following the completion of the sale, the director now directly owns 1,808,886 shares in the company, valued at approximately $16,099,085.40. The trade was a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of Amneal Pharmaceuticals stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $8.35, for a total transaction of $41,750,000.00. Following the completion of the sale, the insider now owns 48,578,209 shares of the company's stock, valued at approximately $405,628,045.15. The trade was a 9.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amneal Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Amneal Pharmaceuticals by 6.2% in the first quarter. Vanguard Group Inc. now owns 15,762,727 shares of the company's stock valued at $132,092,000 after buying an additional 920,758 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Amneal Pharmaceuticals by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,991,702 shares of the company's stock valued at $39,531,000 after buying an additional 278,653 shares in the last quarter. Geode Capital Management LLC increased its stake in Amneal Pharmaceuticals by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 3,813,207 shares of the company's stock valued at $30,207,000 after acquiring an additional 26,536 shares during the last quarter. Nantahala Capital Management LLC increased its stake in Amneal Pharmaceuticals by 37.3% in the fourth quarter. Nantahala Capital Management LLC now owns 3,665,529 shares of the company's stock valued at $29,031,000 after acquiring an additional 995,586 shares during the last quarter. Finally, BlackBarn Capital Partners LP increased its stake in Amneal Pharmaceuticals by 18.2% in the fourth quarter. BlackBarn Capital Partners LP now owns 2,850,000 shares of the company's stock valued at $22,572,000 after acquiring an additional 438,388 shares during the last quarter. 31.82% of the stock is currently owned by institutional investors and hedge funds.

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.

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