Amneal Pharmaceuticals (NASDAQ:AMRX) Earns Buy Rating from Truist Financial

Truist Financial reissued their buy rating on shares of Amneal Pharmaceuticals (NASDAQ:AMRX - Free Report) in a research report report published on Monday, Benzinga reports. The firm currently has a $9.00 target price on the stock, up from their previous target price of $7.00.

Other research analysts have also issued reports about the company. Barclays increased their price objective on Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an overweight rating in a research report on Monday, January 29th. StockNews.com lowered Amneal Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Monday, March 4th. Piper Sandler increased their price objective on Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an overweight rating in a research report on Thursday, March 21st. Finally, The Goldman Sachs Group raised their price target on Amneal Pharmaceuticals from $5.50 to $6.25 and gave the stock a buy rating in a research report on Monday, March 4th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Amneal Pharmaceuticals currently has an average rating of Buy and an average price target of $8.25.

Amneal Pharmaceuticals Stock Performance

Amneal Pharmaceuticals stock traded down $0.11 during trading hours on Monday, hitting $6.65. The stock had a trading volume of 1,788,120 shares, compared to its average volume of 1,571,878. The company has a 50-day moving average of $5.78 and a two-hundred day moving average of $5.32. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 121.31. The company has a market cap of $2.04 billion, a PE ratio of -11.87 and a beta of 1.33. Amneal Pharmaceuticals has a fifty-two week low of $1.74 and a fifty-two week high of $6.90.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last posted its quarterly earnings results on Friday, March 1st. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.05 by $0.07. The firm had revenue of $616.98 million during the quarter, compared to analysts' expectations of $630.67 million. Amneal Pharmaceuticals had a positive return on equity of 234.06% and a negative net margin of 6.76%. On average, equities research analysts anticipate that Amneal Pharmaceuticals will post 0.5 EPS for the current fiscal year.

Institutional Trading of Amneal Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rubric Capital Management LP increased its position in shares of Amneal Pharmaceuticals by 98.8% in the fourth quarter. Rubric Capital Management LP now owns 8,000,000 shares of the company's stock valued at $48,560,000 after acquiring an additional 3,975,500 shares during the last quarter. Phocas Financial Corp. bought a new position in Amneal Pharmaceuticals during the fourth quarter worth about $4,339,000. Hillsdale Investment Management Inc. grew its holdings in Amneal Pharmaceuticals by 1,240.3% during the fourth quarter. Hillsdale Investment Management Inc. now owns 584,619 shares of the company's stock worth $3,549,000 after purchasing an additional 541,000 shares during the period. Vanguard Group Inc. grew its holdings in Amneal Pharmaceuticals by 3.1% during the third quarter. Vanguard Group Inc. now owns 13,548,300 shares of the company's stock worth $57,174,000 after purchasing an additional 412,599 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Amneal Pharmaceuticals by 271.7% during the first quarter. Assenagon Asset Management S.A. now owns 546,537 shares of the company's stock worth $3,312,000 after purchasing an additional 399,492 shares during the period. Institutional investors and hedge funds 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.