Amneal Pharmaceuticals (NASDAQ:AMRX) Now Covered by Analysts at The Goldman Sachs Group

Investment analysts at The Goldman Sachs Group assumed coverage on shares of Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) in a report issued on Friday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $12.00 price target on the stock. The Goldman Sachs Group's target price would indicate a potential upside of 67.36% from the company's current price.

Other research analysts have also issued research reports about the stock. 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 research note on Monday, February 24th. Barclays raised their target price on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an "overweight" rating in a report on Monday, March 3rd. Finally, Wall Street Zen downgraded shares of Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Tuesday, May 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $11.60.

Amneal Pharmaceuticals Price Performance

NASDAQ AMRX opened at $7.17 on Friday. Amneal Pharmaceuticals has a 12 month low of $6.29 and a 12 month high of $9.48. The company's 50 day simple moving average is $7.39 and its 200 day simple moving average is $7.96. The company has a market capitalization of $2.25 billion, a P/E ratio of -10.54 and a beta of 1.17.

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

Insiders Place Their Bets

In related news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of Amneal Pharmaceuticals stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $8.35, for a total value 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. This trade represents a 9.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 26.56% of the company's stock.

Institutional Trading of Amneal Pharmaceuticals

A number of hedge funds have recently bought and sold shares of AMRX. Nuveen LLC purchased a new position in shares of Amneal Pharmaceuticals during the first quarter valued at approximately $19,581,000. Nantahala Capital Management LLC raised its stake in shares of Amneal Pharmaceuticals by 37.3% in the fourth quarter. Nantahala Capital Management LLC now owns 3,665,529 shares of the company's stock worth $29,031,000 after buying an additional 995,586 shares during the period. Woodline Partners LP boosted its holdings in Amneal Pharmaceuticals by 165.2% in the 1st quarter. Woodline Partners LP now owns 1,504,095 shares of the company's stock worth $12,604,000 after buying an additional 937,035 shares during the period. Vanguard Group Inc. raised its stake in Amneal Pharmaceuticals by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 15,762,727 shares of the company's stock valued at $132,092,000 after purchasing an additional 920,758 shares during the period. Finally, Acadian Asset Management LLC increased its stake in Amneal Pharmaceuticals by 51.3% in the 1st quarter. Acadian Asset Management LLC now owns 2,598,294 shares of the company's stock worth $21,759,000 after acquiring an additional 880,471 shares during the last quarter. 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.

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