Amneal Pharmaceuticals (NASDAQ:AMRX) Stock Price Up 1.9%

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report) rose 1.9% during trading on Wednesday . The company traded as high as $5.86 and last traded at $5.84. Approximately 420,424 shares changed hands during trading, a decline of 72% from the average daily volume of 1,499,807 shares. The stock had previously closed at $5.73.

Wall Street Analysts Forecast Growth

AMRX has been the topic of a number of recent research reports. Piper Sandler increased their price target on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an "overweight" rating in a research report on Thursday, March 21st. Barclays raised their target price on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an "overweight" rating in a report on Monday, January 29th. StockNews.com cut shares of Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Monday, March 4th. Finally, The Goldman Sachs Group raised their target price on shares of Amneal Pharmaceuticals from $5.50 to $6.25 and gave the stock a "buy" rating in a report on Monday, March 4th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $7.31.

Amneal Pharmaceuticals Price Performance

The business has a 50 day moving average of $5.72 and a 200 day moving average of $5.08. The company has a market cap of $1.75 billion, a PE ratio of -18.32 and a beta of 1.33. The company has a debt-to-equity ratio of 121.31, a current ratio of 1.63 and a quick ratio of 0.94.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last announced its quarterly earnings results on Friday, March 1st. The company reported $0.12 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $616.98 million during the quarter, compared to analyst estimates of $630.67 million. As a group, research analysts predict that Amneal Pharmaceuticals, Inc. will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several large investors have recently bought and sold shares of the business. Swiss National Bank lifted its holdings in Amneal Pharmaceuticals by 8.6% in the 1st quarter. Swiss National Bank now owns 229,600 shares of the company's stock worth $957,000 after purchasing an additional 18,100 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Amneal Pharmaceuticals by 1.1% in the 1st quarter. Bank of New York Mellon Corp now owns 566,337 shares of the company's stock worth $2,361,000 after purchasing an additional 6,097 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Amneal Pharmaceuticals by 169.4% in the 1st quarter. MetLife Investment Management LLC now owns 58,313 shares of the company's stock worth $243,000 after purchasing an additional 36,668 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in Amneal Pharmaceuticals by 109.5% in the 1st quarter. Panagora Asset Management Inc. now owns 165,694 shares of the company's stock worth $691,000 after purchasing an additional 86,613 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Amneal Pharmaceuticals by 1.3% in the 1st quarter. BlackRock Inc. now owns 7,082,702 shares of the company's stock worth $29,535,000 after purchasing an additional 91,072 shares in the last quarter. 31.82% of the stock is currently owned by institutional investors.

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.