Amneal Pharmaceuticals (NASDAQ:AMRX) Shares Gap Up to $5.40

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $5.40, but opened at $5.76. Amneal Pharmaceuticals shares last traded at $5.79, with a volume of 637,860 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Amneal Pharmaceuticals from $5.50 to $6.25 and gave the stock a "buy" rating in a research report on Monday, March 4th. StockNews.com downgraded Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Monday, March 4th. Barclays raised their price objective on Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an "overweight" rating in a report on Monday, January 29th. Finally, Piper Sandler upped their price target on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an "overweight" rating in a research report on Thursday, March 21st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $7.31.

Amneal Pharmaceuticals Stock Performance

The business's 50-day moving average price is $5.71 and its 200-day moving average price is $5.17. The company has a current ratio of 1.63, a quick ratio of 0.94 and a debt-to-equity ratio of 121.31. The stock has a market cap of $1.86 billion, a PE ratio of -19.52 and a beta of 1.33.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last issued its quarterly earnings data on Friday, March 1st. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.05 by $0.07. Amneal Pharmaceuticals had a positive return on equity of 126.04% and a negative net margin of 3.51%. The firm had revenue of $616.98 million during the quarter, compared to analyst estimates of $630.67 million. As a group, equities research analysts expect that Amneal Pharmaceuticals, Inc. will post 0.5 earnings per share for the current fiscal year.

Institutional Trading of Amneal Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Gladius Capital Management LP acquired a new stake in shares of Amneal Pharmaceuticals during the third quarter worth $39,000. Sherbrooke Park Advisers LLC acquired a new stake in Amneal Pharmaceuticals during the 3rd quarter worth about $54,000. Trexquant Investment LP purchased a new stake in Amneal Pharmaceuticals during the 4th quarter valued at about $65,000. TCG Advisory Services LLC acquired a new position in shares of Amneal Pharmaceuticals in the fourth quarter valued at about $91,000. Finally, Aigen Investment Management LP purchased a new position in shares of Amneal Pharmaceuticals in the third quarter worth about $118,000. Hedge funds and other institutional investors own 31.82% of the company's stock.

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.