Allianz Asset Management GmbH Makes New Investment in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Key Points

• Allianz Asset Management GmbH acquired 38,900 shares of Amneal Pharmaceuticals, valued at approximately $326,000, indicating growing institutional interest in the company.
• Analysts have a consensus rating of "Buy" for Amneal Pharmaceuticals, with projections for a target price of $11.60 per share.
• Amneal Pharmaceuticals reported $0.19 earnings per share for the last quarter, surpassing analysts' expectations, though its revenue fell short of forecasts.

Allianz Asset Management GmbH acquired a new position in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 38,900 shares of the company's stock, valued at approximately $326,000.

Several other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Amneal Pharmaceuticals by 5,975.0% in the first quarter. GAMMA Investing LLC now owns 3,159 shares of the company's stock worth $26,000 after purchasing an additional 3,107 shares during the last quarter. Amalgamated Bank grew its position in shares of Amneal Pharmaceuticals by 33.0% in the 1st quarter. Amalgamated Bank now owns 5,511 shares of the company's stock worth $46,000 after buying an additional 1,367 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Amneal Pharmaceuticals in the 4th quarter valued at $52,000. Straightline Group LLC acquired a new position in Amneal Pharmaceuticals during the fourth quarter worth $92,000. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of Amneal Pharmaceuticals during the fourth quarter worth $107,000. 31.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMRX. The Goldman Sachs Group assumed coverage on shares of Amneal Pharmaceuticals in a research report on Friday, June 6th. They set a "buy" rating and a $12.00 price target on the stock. Wall Street Zen downgraded Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, May 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $11.60.

Amneal Pharmaceuticals Price Performance

Shares of AMRX stock traded up $0.34 on Friday, hitting $8.55. 1,480,664 shares of the stock traded hands, compared to its average volume of 1,674,629. Amneal Pharmaceuticals, Inc. has a 1-year low of $6.68 and a 1-year high of $9.48. The company's fifty day moving average is $7.99 and its 200 day moving average is $7.96. The company has a market capitalization of $2.68 billion, a PE ratio of 855.36 and a beta of 1.11.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.23 earnings per share 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%. As a group, equities research analysts expect that Amneal Pharmaceuticals, Inc. will post 0.53 EPS for the current year.

Amneal Pharmaceuticals Profile

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.