Amneal Pharmaceuticals (NASDAQ:AMRX) Price Target Raised to $24.00

Key Points

• JPMorgan raised Amneal Pharmaceuticals’ price target to $24 from $22 and maintained an “overweight” rating, implying approximately 18.1% upside from the reported share price.
• Analyst sentiment is broadly positive, with nine Buy ratings and one Sell rating; MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $21.25.
• Amneal reported quarterly EPS of $0.30, beating estimates of $0.24, on revenue of $796.2 million. However, insiders sold 413,016 shares worth about $7.2 million over the past 90 days.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) had its target price boosted by equities research analysts at JPMorgan Chase & Co. from $22.00 to $24.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 18.12% from the stock's current price.

Several other research analysts have also recently weighed in on AMRX. Oppenheimer assumed coverage on shares of Amneal Pharmaceuticals in a report on Wednesday, September 23rd. They set an "outperform" rating and a $27.00 price target on the stock. Wall Street Zen upgraded shares of Amneal Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Sunday, July 12th. Weiss Ratings raised shares of Amneal Pharmaceuticals from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Zacks Research lowered shares of Amneal Pharmaceuticals from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 6th. Finally, UBS Group reissued a "buy" rating on shares of Amneal Pharmaceuticals in a research note on Thursday, October 1st. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $21.25.

Amneal Pharmaceuticals Trading Up 0.6%

AMRX opened at $20.32 on Thursday. The firm has a market capitalization of $6.49 billion, a price-to-earnings ratio of 41.60, a PEG ratio of 2.33 and a beta of 1.22. The company's 50 day moving average price is $18.68 and its two-hundred day moving average price is $16.36. The company has a debt-to-equity ratio of 77.65, a current ratio of 2.20 and a quick ratio of 1.44. Amneal Pharmaceuticals has a fifty-two week low of $9.99 and a fifty-two week high of $21.17.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.06. Amneal Pharmaceuticals had a net margin of 5.05% and a negative return on equity of 584.46%. The business had revenue of $796.20 million for the quarter. Amneal Pharmaceuticals has set its FY 2026 guidance at 0.960-1.060 EPS. As a group, research analysts predict that Amneal Pharmaceuticals will post 0.95 earnings per share for the current year.

Insider Transactions at Amneal Pharmaceuticals

In other Amneal Pharmaceuticals news, EVP Nikita Shah sold 146,403 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $17.51, for a total value of $2,563,516.53. Following the sale, the executive vice president owned 253,390 shares in the company, valued at $4,436,858.90. This trade represents a 36.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Kiely sold 50,000 shares of the company's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $17.64, for a total value of $882,000.00. Following the sale, the director owned 210,252 shares of the company's stock, valued at approximately $3,708,845.28. This represents a 19.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 413,016 shares of company stock worth $7,216,567. 17.30% of the stock is currently owned by company insiders.

Institutional Trading of Amneal Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Paralel Advisors LLC purchased a new position in Amneal Pharmaceuticals in the second quarter valued at about $3,217,000. Renaissance Technologies LLC boosted its stake in Amneal Pharmaceuticals by 1,586.8% in the 1st quarter. Renaissance Technologies LLC now owns 276,637 shares of the company's stock worth $3,439,000 after buying an additional 260,237 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Amneal Pharmaceuticals by 37.6% in the 1st quarter. California State Teachers Retirement System now owns 207,239 shares of the company's stock valued at $2,576,000 after purchasing an additional 56,588 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Amneal Pharmaceuticals in the 1st quarter valued at about $936,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of Amneal Pharmaceuticals in the 1st quarter valued at $4,165,000. Institutional investors and hedge funds own 31.82% of the company's stock.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals, Inc is a specialty pharmaceutical company that develops, manufactures and commercializes a broad portfolio of generic and specialty medicines. Its products include oral, injectable and inhaled medications, as well as complex dosage forms and other products designed to address areas where manufacturing or formulation requirements can be more challenging.

The company's generics business offers medicines across a range of therapeutic categories, including central nervous system, cardiovascular, gastrointestinal, anti-infective and other treatments.

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