Allspring Global Investments Holdings LLC Grows Stock Position in Amneal Pharmaceuticals, Inc. $AMRX

Key Points

• Allspring Global Investments increased its stake in Amneal by 30.3% in Q4, adding 344,373 shares to hold 1,480,172 shares (about 0.47% of the company) valued at roughly $18.74 million.
• Wall Street is generally bullish on AMRX with a consensus "Buy" rating and a $14.20 average price target; notable calls include Truist raising its target to $17 and Zacks upgrading to "strong-buy."
• Amneal trades around $12.48 with a market cap of $3.93 billion, a P/E of 54.26, and a 52-week range of $6.68 to $15.42, while institutional investors own about 31.8% of the stock.

Allspring Global Investments Holdings LLC raised its position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 30.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,480,172 shares of the company's stock after acquiring an additional 344,373 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.47% of Amneal Pharmaceuticals worth $18,739,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Spire Wealth Management boosted its position in Amneal Pharmaceuticals by 66.6% in the 4th quarter. Spire Wealth Management now owns 2,558 shares of the company's stock valued at $32,000 after buying an additional 1,023 shares during the last quarter. Comerica Bank boosted its stake in shares of Amneal Pharmaceuticals by 186.7% during the 3rd quarter. Comerica Bank now owns 3,005 shares of the company's stock valued at $30,000 after buying an additional 1,957 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Amneal Pharmaceuticals during the third quarter worth approximately $31,000. Focus Partners Wealth acquired a new stake in shares of Amneal Pharmaceuticals during the third quarter worth approximately $42,000. Finally, Advisory Services Network LLC bought a new stake in shares of Amneal Pharmaceuticals in the third quarter worth $50,000. 31.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Amneal Pharmaceuticals Stock Performance

NASDAQ AMRX opened at $12.48 on Friday. Amneal Pharmaceuticals, Inc. has a 52 week low of $6.68 and a 52 week high of $15.42. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 54.26 and a beta of 1.32. The company has a 50-day moving average price of $13.48 and a two-hundred day moving average price of $12.26.

Amneal Pharmaceuticals Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.