AMNEAL PHARMACEUTICALS (NASDAQ:AMRX) Reaches New 12-Month High - Here's What Happened

Key Points

• AMNEAL PHARMACEUTICALS reached a new 52-week high during trading, peaking at $9.59 and closing at $9.45 with a trading volume of 180,815 shares.
• The company currently has a consensus rating of "Buy" among analysts, with an average price target set at $11.60.
• Several institutional investors have increased their holdings in AMNEAL PHARMACEUTICALS, with GAMMA Investing LLC raising its stake by 5,975.0% in the first quarter.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on AMRX. The Goldman Sachs Group began coverage on shares of AMNEAL PHARMACEUTICALS in a research note on Friday, June 6th. They issued a "buy" rating and a $12.00 price target for the company. Wall Street Zen cut shares of AMNEAL PHARMACEUTICALS from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, May 13th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, AMNEAL PHARMACEUTICALS currently has a consensus rating of "Buy" and an average price target of $11.60.

AMNEAL PHARMACEUTICALS Price Performance

The firm has a market capitalization of $2.95 billion, a P/E ratio of 943.94 and a beta of 1.11. The company's 50-day simple moving average is $8.18 and its two-hundred day simple moving average is $7.97.

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

Insiders Place Their Bets

In related news, EVP Jason B. Daly sold 22,000 shares of AMNEAL PHARMACEUTICALS stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $9.05, for a total transaction of $199,100.00. Following the completion of the transaction, the executive vice president directly owned 10,606 shares of the company's stock, valued at approximately $95,984.30. The trade was a 67.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nikita Shah sold 50,000 shares of AMNEAL PHARMACEUTICALS stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $9.04, for a total transaction of $452,000.00. Following the sale, the executive vice president owned 338,929 shares of the company's stock, valued at $3,063,918.16. The trade was a 12.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 105,436 shares of company stock valued at $953,696 in the last three months. Corporate insiders own 26.56% of the company's stock.

Institutional Investors Weigh In On AMNEAL PHARMACEUTICALS

Large investors have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in shares of AMNEAL PHARMACEUTICALS by 5,975.0% in the 1st quarter. GAMMA Investing LLC now owns 3,159 shares of the company's stock valued at $26,000 after purchasing an additional 3,107 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of AMNEAL PHARMACEUTICALS in the 1st quarter valued at $31,000. Amalgamated Bank boosted its holdings in AMNEAL PHARMACEUTICALS by 33.0% during the first quarter. Amalgamated Bank now owns 5,511 shares of the company's stock worth $46,000 after buying an additional 1,367 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in AMNEAL PHARMACEUTICALS during the fourth quarter worth $52,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in AMNEAL PHARMACEUTICALS by 16.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,107 shares of the company's stock worth $98,000 after acquiring an additional 1,735 shares during the period. Institutional investors 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.

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