71,426 Shares in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Bought by Jennison Associates LLC

Jennison Associates LLC acquired a new position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 71,426 shares of the company's stock, valued at approximately $599,000.

A number of other hedge funds have also recently made changes to their positions in AMRX. Victory Capital Management Inc. raised its position in Amneal Pharmaceuticals by 70.9% during the first quarter. Victory Capital Management Inc. now owns 360,829 shares of the company's stock valued at $3,024,000 after purchasing an additional 149,699 shares during the period. CWM LLC grew its stake in Amneal Pharmaceuticals by 275.8% in the first quarter. CWM LLC now owns 15,080 shares of the company's stock worth $126,000 after purchasing an additional 11,067 shares in the last quarter. Xponance Inc. grew its stake in Amneal Pharmaceuticals by 16.1% in the first quarter. Xponance Inc. now owns 13,183 shares of the company's stock worth $110,000 after purchasing an additional 1,828 shares in the last quarter. GF Fund Management CO. LTD. grew its stake in Amneal Pharmaceuticals by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 7,934 shares of the company's stock worth $66,000 after purchasing an additional 1,428 shares in the last quarter. Finally, Vishria Bird Financial Group LLC bought a new stake in Amneal Pharmaceuticals during the 1st quarter valued at $350,000. Institutional investors own 31.82% of the company's stock.

Analysts Set New Price Targets

AMRX has been the topic of several recent research reports. Wall Street Zen cut Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, May 13th. The Goldman Sachs Group started coverage on Amneal Pharmaceuticals in a research report on Friday, June 6th. They set a "buy" rating and a $12.00 target price on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $11.60.

Amneal Pharmaceuticals Trading Up 0.8%

Shares of AMRX traded up $0.06 during midday trading on Friday, hitting $8.06. 1,121,966 shares of the company's stock traded hands, compared to its average volume of 1,371,450. Amneal Pharmaceuticals, Inc. has a 1 year low of $6.50 and a 1 year high of $9.48. The firm's fifty day moving average is $7.87 and its 200-day moving average is $7.96. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of -201.45 and a beta of 1.06.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.14 by $0.05. The firm had revenue of $695.42 million during the quarter, compared to analyst estimates of $714.78 million. Amneal Pharmaceuticals had a negative return on equity of 188.26% and a negative net margin of 0.46%. On average, equities research analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.53 EPS for the current year.

About Amneal Pharmaceuticals

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.