Leerink Partners Forecasts Strong Price Appreciation for Amneal Pharmaceuticals (NASDAQ:AMRX) Stock

Key Points

• Leerink Partners raised its price target on Amneal Pharmaceuticals to $25 from $23 and reiterated an “outperform” rating, implying 28.5% upside from the prior close. Analysts overall have a “Moderate Buy” consensus and an average target of $23.
• Amneal reported quarterly earnings of $0.26 per share, beating estimates of $0.23, on revenue of $862.68 million.
• Shares fell 2.5% on Thursday to $19.45. Company insiders have 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 upped by equities research analysts at Leerink Partners from $23.00 to $25.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Leerink Partners's price objective would suggest a potential upside of 28.53% from the company's previous close.

AMRX has been the topic of several other research reports. UBS Group reissued a "buy" rating on shares of Amneal Pharmaceuticals in a research note on Thursday, October 1st. Oppenheimer began coverage on Amneal Pharmaceuticals in a research report on Wednesday, September 23rd. They issued an "outperform" rating and a $27.00 target price for the company. Weiss Ratings raised Amneal Pharmaceuticals from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Barclays boosted their price target on shares of Amneal Pharmaceuticals from $16.00 to $20.00 and gave the stock an "overweight" rating in a research note on Thursday, September 17th. Finally, Piper Sandler reissued an "overweight" rating and set a $21.00 price target on shares of Amneal Pharmaceuticals in a research report on Wednesday. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $23.00.

Amneal Pharmaceuticals Trading Down 2.5%

Shares of Amneal Pharmaceuticals stock traded down $0.50 on Thursday, reaching $19.45. The company had a trading volume of 3,401,210 shares, compared to its average volume of 2,429,972. The firm's 50 day moving average price is $19.26 and its two-hundred day moving average price is $15.85. The company has a debt-to-equity ratio of 5.61, a quick ratio of 1.44 and a current ratio of 1.87. Amneal Pharmaceuticals has a 52-week low of $11.29 and a 52-week high of $21.68. The firm has a market cap of $6.21 billion, a PE ratio of 46.31, a PEG ratio of 2.36 and a beta of 1.24.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.03. Amneal Pharmaceuticals had a net margin of 4.17% and a return on equity of 283.50%. The firm had revenue of $862.68 million during the quarter. Sell-side analysts predict that Amneal Pharmaceuticals will post 0.95 earnings per share for the current fiscal year.

Insider Transactions at Amneal Pharmaceuticals

In other Amneal Pharmaceuticals news, EVP Jason B. Daly sold 210,000 shares of the company's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $17.40, for a total transaction of $3,654,000.00. Following the sale, the executive vice president owned 35,171 shares in the company, valued at $611,975.40. This represents a 85.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Kiely sold 50,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $17.64, for a total value of $882,000.00. Following the completion of the sale, the director directly owned 210,252 shares in the company, valued at $3,708,845.28. This represents a 19.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 413,016 shares of company stock valued at $7,216,567. 17.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in Amneal Pharmaceuticals by 54.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,605 shares of the company's stock worth $32,000 after acquiring an additional 569 shares during the period. Fortitude Family Office LLC grew its stake in shares of Amneal Pharmaceuticals by 100.9% in the 3rd quarter. Fortitude Family Office LLC now owns 1,607 shares of the company's stock valued at $32,000 after purchasing an additional 807 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of Amneal Pharmaceuticals by 30.3% in the third quarter. Sterling Capital Management LLC now owns 3,549 shares of the company's stock valued at $71,000 after purchasing an additional 825 shares during the period. Arizona State Retirement System increased its holdings in shares of Amneal Pharmaceuticals by 1.9% in the second quarter. Arizona State Retirement System now owns 44,011 shares of the company's stock valued at $762,000 after purchasing an additional 837 shares during the period. Finally, Yousif Capital Management LLC increased its holdings in shares of Amneal Pharmaceuticals by 2.9% in the third quarter. Yousif Capital Management LLC now owns 42,839 shares of the company's stock valued at $863,000 after purchasing an additional 1,197 shares during the period. Hedge funds and other institutional investors 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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