Amneal Pharmaceuticals (NASDAQ:AMRX) Stock Price Down 2.2%

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report) fell 2.2% on Tuesday . The company traded as low as $5.82 and last traded at $5.87. 101,337 shares were traded during trading, a decline of 93% from the average session volume of 1,483,428 shares. The stock had previously closed at $6.00.

Wall Street Analyst Weigh In

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

Amneal Pharmaceuticals Stock Down 4.5 %

The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -18.48 and a beta of 1.33. The stock has a 50 day simple moving average of $5.72 and a 200 day simple moving average of $5.08. The company has a quick ratio of 0.94, a current ratio of 1.63 and a debt-to-equity ratio of 121.31.

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

Institutional Trading of Amneal Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMRX. Aigen Investment Management LP bought a new stake in Amneal Pharmaceuticals during the third quarter worth $118,000. Assenagon Asset Management S.A. raised its holdings in shares of Amneal Pharmaceuticals by 122.4% in the third quarter. Assenagon Asset Management S.A. now owns 515,233 shares of the company's stock valued at $2,174,000 after purchasing an additional 283,524 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Amneal Pharmaceuticals by 27.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 492,304 shares of the company's stock valued at $2,078,000 after purchasing an additional 107,090 shares during the last quarter. Caxton Associates LP bought a new position in shares of Amneal Pharmaceuticals during the third quarter valued at about $508,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Amneal Pharmaceuticals during the third quarter worth about $160,000. 31.82% of the stock is 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.