Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Stock Has Consensus Target Price of $23.00 According to Analysts

Key Points

• Analysts rate Amneal Pharmaceuticals a “Moderate Buy”: eight of ten covering firms recommend buying, and the average 12-month price target is $23.00, compared with a recent share price of $21.38.
• Amneal reported quarterly earnings per share of $0.26, beating the $0.23 analyst consensus; quarterly revenue was $862.68 million.
• The stock recently traded near its 12-month high of $22.07, while hedge funds and other institutional investors own 31.82% of shares.

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the ten research firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $23.00.

A number of analysts recently weighed in on AMRX shares. Piper Sandler reaffirmed an "overweight" rating and set a $21.00 target price on shares of Amneal Pharmaceuticals in a report on Wednesday, November 4th. The Goldman Sachs Group reissued a "buy" rating and issued a $24.00 price target on shares of Amneal Pharmaceuticals in a report on Thursday, October 29th. UBS Group reissued a "buy" rating on shares of Amneal Pharmaceuticals in a report on Thursday, October 1st. Weiss Ratings lowered shares of Amneal Pharmaceuticals from a "buy (b)" rating to a "hold (c+)" rating in a research report on Tuesday. Finally, Zacks Research raised shares of Amneal Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Monday, October 26th.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its position in Amneal Pharmaceuticals by 72.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,549,572 shares of the company's stock valued at $32,405,000 after buying an additional 1,069,400 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Amneal Pharmaceuticals during the second quarter valued at about $17,573,000. Principal Financial Group Inc. increased its holdings in shares of Amneal Pharmaceuticals by 527.9% in the first quarter. Principal Financial Group Inc. now owns 972,529 shares of the company's stock worth $12,089,000 after buying an additional 817,652 shares during the period. Congress Asset Management Co. increased its holdings in shares of Amneal Pharmaceuticals by 94.7% in the third quarter. Congress Asset Management Co. now owns 1,524,355 shares of the company's stock worth $30,701,000 after buying an additional 741,577 shares during the period. Finally, Public Sector Pension Investment Board lifted its stake in shares of Amneal Pharmaceuticals by 73.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,026,235 shares of the company's stock valued at $20,032,000 after acquiring an additional 434,400 shares during the last quarter. 31.82% of the stock is currently owned by hedge funds and other institutional investors.

Amneal Pharmaceuticals Price Performance

AMRX traded down $0.32 during trading on Friday, reaching $21.38. 1,717,832 shares of the company were exchanged, compared to its average volume of 4,133,451. Amneal Pharmaceuticals has a 12-month low of $11.39 and a 12-month high of $22.07. The company's 50-day moving average is $19.71 and its two-hundred day moving average is $16.11. The company has a quick ratio of 1.24, a current ratio of 1.87 and a debt-to-equity ratio of 5.61. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 50.90, a P/E/G ratio of 2.47 and a beta of 1.24.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. Amneal Pharmaceuticals had a return on equity of 283.50% and a net margin of 4.17%. The business had revenue of $862.68 million during the quarter. Research analysts forecast that Amneal Pharmaceuticals will post 0.98 earnings per share for the current fiscal year.

Amneal Pharmaceuticals Company Profile

Amneal Pharmaceuticals is a U.S.-based pharmaceutical company that develops, manufactures and markets generic and specialty medicines. Its products include a broad range of generic drugs, including complex formulations and injectable medicines, as well as branded therapies in areas such as neurology and endocrinology. The company also operates AvKARE, which distributes pharmaceuticals and medical products to government, institutional and commercial customers. Amneal serves customers in the United States and in international markets.

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