Amneal Pharmaceuticals (NASDAQ:AMRX) Hits New 52-Week High - Still a Buy?

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)'s share price hit a new 52-week high during trading on Friday . The company traded as high as $9.59 and last traded at $9.45, with a volume of 180815 shares trading hands. The stock had previously closed at $9.39.

Analysts Set New Price Targets

A number of brokerages recently commented on AMRX. Wall Street Zen downgraded Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Tuesday, May 13th. The Goldman Sachs Group initiated coverage on Amneal Pharmaceuticals in a report on Friday, June 6th. They set a "buy" rating and a $12.00 price target for the company. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $11.60.

Amneal Pharmaceuticals Price Performance

The company has a market capitalization of $2.96 billion, a PE ratio of 941.94 and a beta of 1.11. The firm has a 50-day moving average of $8.31 and a 200 day moving average of $7.99.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last released 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 negative return on equity of 189.49% and a net margin of 0.12%. Amneal Pharmaceuticals has set its FY 2025 guidance at 0.700-0.750 EPS. Equities analysts expect that Amneal Pharmaceuticals, Inc. will post 0.53 EPS for the current year.

Insiders Place Their Bets

In other Amneal Pharmaceuticals news, EVP Andrew S. Boyer sold 33,436 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $9.05, for a total value of $302,595.80. Following the transaction, the executive vice president directly owned 256,670 shares of the company's stock, valued at approximately $2,322,863.50. This trade represents a 11.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jason B. Daly sold 22,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $9.05, for a total value of $199,100.00. Following the completion of the transaction, the executive vice president directly owned 10,606 shares in the company, valued at $95,984.30. The trade was a 67.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 177,130 shares of company stock valued at $1,619,733. Insiders own 17.45% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sei Investments Co. lifted its position in shares of Amneal Pharmaceuticals by 0.4% during the 1st quarter. Sei Investments Co. now owns 340,816 shares of the company's stock valued at $2,710,000 after buying an additional 1,355 shares in the last quarter. Amalgamated Bank lifted its position in shares of Amneal Pharmaceuticals by 33.0% during the 1st quarter. Amalgamated Bank now owns 5,511 shares of the company's stock valued at $46,000 after buying an additional 1,367 shares in the last quarter. GF Fund Management CO. LTD. lifted its position in shares of Amneal Pharmaceuticals by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 7,934 shares of the company's stock valued at $66,000 after buying an additional 1,428 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Amneal Pharmaceuticals by 16.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,107 shares of the company's stock valued at $98,000 after buying an additional 1,735 shares in the last quarter. Finally, Xponance Inc. lifted its position in shares of Amneal Pharmaceuticals by 16.1% during the 1st quarter. Xponance Inc. now owns 13,183 shares of the company's stock valued at $110,000 after buying an additional 1,828 shares in the last quarter. 31.82% of the stock is owned by hedge funds and other institutional investors.

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.