Jennison Associates LLC Invests $599,000 in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Jennison Associates LLC purchased a new stake in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 71,426 shares of the company's stock, valued at approximately $599,000.

A number of other hedge funds also recently made changes to their positions in the stock. Amalgamated Bank grew its stake in shares of Amneal Pharmaceuticals by 33.0% during the 1st quarter. Amalgamated Bank now owns 5,511 shares of the company's stock valued at $46,000 after acquiring an additional 1,367 shares during the period. GF Fund Management CO. LTD. grew its stake in shares of Amneal Pharmaceuticals by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 7,934 shares of the company's stock valued at $66,000 after acquiring an additional 1,428 shares during the period. Xponance Inc. boosted its stake in Amneal Pharmaceuticals by 16.1% in the 1st quarter. Xponance Inc. now owns 13,183 shares of the company's stock worth $110,000 after purchasing an additional 1,828 shares during the period. MetLife Investment Management LLC boosted its stake in Amneal Pharmaceuticals by 2.5% in the 4th quarter. MetLife Investment Management LLC now owns 94,639 shares of the company's stock worth $750,000 after purchasing an additional 2,297 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Amneal Pharmaceuticals by 3.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,460 shares of the company's stock worth $716,000 after purchasing an additional 2,911 shares during the period. 31.82% of the stock is currently owned by institutional investors.

Amneal Pharmaceuticals Trading Up 0.8%

NASDAQ:AMRX traded up $0.06 during midday trading on Friday, hitting $8.06. 1,121,966 shares of the company traded hands, compared to its average volume of 1,371,450. The firm's fifty day moving average is $7.87 and its 200-day moving average is $7.96. Amneal Pharmaceuticals, Inc. has a 12-month low of $6.50 and a 12-month high of $9.48. The firm has a market capitalization of $2.53 billion, a P/E ratio of -201.45 and a beta of 1.06.

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on Amneal Pharmaceuticals in a research note on Friday, June 6th. They issued a "buy" rating and a $12.00 price target for the company. 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, Based on data from MarketBeat.com, Amneal Pharmaceuticals currently has an average rating of "Buy" and a consensus target price of $11.60.

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.