Amneal Pharmaceuticals (NASDAQ:AMRX) Shares Down 5.5% - Here's What Happened

Key Points

• Shares fell 5.5% to $12.62 on Wednesday (intraday low $12.86) on light trading of 588,990 shares, a 78% decline versus the average session volume of ~2.67 million shares.
• Analysts remain broadly positive with a consensus Buy rating and a $14.20 average price target; recent notes include Truist raising its target to $17 (Buy) and Zacks upgrading to Strong-Buy.
• The stock has a market cap of about $3.97 billion, a P/E of 54.8, a 50-day moving average of $13.81 and a 200-day moving average of $11.96, with institutional investors owning 31.82% of the shares.

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report)'s stock price traded down 5.5% during trading on Wednesday . The company traded as low as $12.86 and last traded at $12.6180. 588,990 shares were traded during trading, a decline of 78% from the average session volume of 2,670,884 shares. The stock had previously closed at $13.35.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMRX. Truist Financial increased their price target on Amneal Pharmaceuticals from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. Zacks Research upgraded Amneal Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Friday, March 6th. Barclays started coverage on shares of Amneal Pharmaceuticals in a research report on Monday, December 8th. They set an "overweight" rating and a $15.00 target price for the company. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Amneal Pharmaceuticals in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $14.20.

Amneal Pharmaceuticals Price Performance

The company has a fifty day moving average price of $13.81 and a 200 day moving average price of $11.96. The stock has a market cap of $3.97 billion, a P/E ratio of 54.80 and a beta of 1.35.

Institutional Investors Weigh In On Amneal Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in AMRX. Kemnay Advisory Services Inc. acquired a new position in Amneal Pharmaceuticals during the 4th quarter valued at about $26,000. Federated Hermes Inc. increased its stake in shares of Amneal Pharmaceuticals by 1,680.6% during the 4th quarter. Federated Hermes Inc. now owns 2,297 shares of the company's stock worth $29,000 after purchasing an additional 2,168 shares during the last quarter. Spire Wealth Management raised its holdings in shares of Amneal Pharmaceuticals by 66.6% in the 4th quarter. Spire Wealth Management now owns 2,558 shares of the company's stock worth $32,000 after purchasing an additional 1,023 shares during the period. Transamerica Financial Advisors LLC lifted its stake in Amneal Pharmaceuticals by 541.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 2,914 shares of the company's stock valued at $37,000 after purchasing an additional 2,460 shares during the last quarter. Finally, Comerica Bank grew its holdings in Amneal Pharmaceuticals by 186.7% during the third quarter. Comerica Bank now owns 3,005 shares of the company's stock valued at $30,000 after purchasing an additional 1,957 shares during the period. Institutional investors and hedge funds own 31.82% of the company's stock.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals, Inc is a publicly traded integrated healthcare company specializing in the development, manufacturing and distribution of generic and specialty pharmaceutical products. The company’s portfolio includes oral solids, injectables, transdermals and biosimilars, serving a broad range of therapeutic areas such as cardiovascular, neuroscience, oncology and women’s health. Alongside its generic offerings, Amneal has built a branded portfolio through strategic acquisitions and internal development, positioning itself across both high-volume generics and higher-value specialty treatments.

Since its founding in 2002 by brothers Chirag and Chintu Modgil, Amneal has pursued growth through organic investment in research and development as well as targeted M&A.

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