Amneal Pharmaceuticals (NASDAQ:AMRX) Hits New 12-Month High - Time to Buy?

Key Points

• Amneal Pharmaceuticals reached a new 52-week high, touching $21.83 and trading at $21.76, up 2.3% on the day.
• Analyst sentiment is favorable: eight analysts rate the stock a Buy and two a Hold, for a consensus “Moderate Buy” rating and an average price target of $23.00.
• The company reported quarterly earnings of $0.26 per share, beating the $0.23 consensus estimate; quarterly revenue was $862.68 million.

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $21.83 and last traded at $21.76, with a volume of 128,981 shares traded. The stock had previously closed at $21.38.

Analyst Ratings Changes

A number of equities research analysts recently commented on AMRX shares. Leerink Partners increased their target price on shares of Amneal Pharmaceuticals from $23.00 to $25.00 and gave the company an "outperform" rating in a research report on Thursday, November 5th. Barclays lifted their price target on shares of Amneal Pharmaceuticals from $16.00 to $20.00 and gave the stock an "overweight" rating in a report on Thursday, September 17th. JPMorgan Chase & Co. upped their price target on Amneal Pharmaceuticals from $24.00 to $25.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 4th. Piper Sandler reiterated an "overweight" rating and set a $21.00 price objective on shares of Amneal Pharmaceuticals in a report on Wednesday, November 4th. Finally, Oppenheimer started coverage on Amneal Pharmaceuticals in a research report on Wednesday, September 23rd. They issued an "outperform" rating and a $27.00 price objective for the company. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Amneal Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $23.00.

Amneal Pharmaceuticals Trading Up 2.3%

The stock has a 50-day moving average of $19.49 and a 200 day moving average of $15.99. The company has a quick ratio of 1.24, a current ratio of 1.87 and a debt-to-equity ratio of 5.61. The stock has a market cap of $6.99 billion, a PE ratio of 52.07, a price-to-earnings-growth ratio of 2.42 and a beta of 1.24.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. Amneal Pharmaceuticals had a net margin of 4.17% and a return on equity of 283.50%. The business had revenue of $862.68 million during the quarter. As a group, sell-side analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.98 earnings per share for the current year.

Insiders Place Their Bets

In other Amneal Pharmaceuticals news, Director John Kiely sold 50,000 shares of Amneal Pharmaceuticals stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $17.64, for a total transaction of $882,000.00. Following the completion of the transaction, the director owned 210,252 shares in the company, valued at approximately $3,708,845.28. This trade represents a 19.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 17.30% of the company's stock.

Institutional Trading of Amneal Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Sector Pension Investment Board raised its position in Amneal Pharmaceuticals by 73.4% during the third quarter. Public Sector Pension Investment Board now owns 1,026,235 shares of the company's stock valued at $20,032,000 after acquiring an additional 434,400 shares in the last quarter. Global Retirement Partners LLC boosted its position in Amneal Pharmaceuticals by 42.6% in the 3rd quarter. Global Retirement Partners LLC now owns 25,815 shares of the company's stock worth $520,000 after purchasing an additional 7,706 shares in the last quarter. HighTower Advisors LLC purchased a new stake in Amneal Pharmaceuticals in the 3rd quarter worth approximately $222,000. Paralel Advisors LLC grew its stake in shares of Amneal Pharmaceuticals by 1.1% during the 3rd quarter. Paralel Advisors LLC now owns 187,941 shares of the company's stock worth $3,785,000 after purchasing an additional 2,110 shares during the period. Finally, Hantz Financial Services Inc. increased its holdings in shares of Amneal Pharmaceuticals by 16.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,880 shares of the company's stock valued at $199,000 after purchasing an additional 1,427 shares in the last quarter. 31.82% of the stock is owned by institutional investors and hedge funds.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals is a U.S.-based pharmaceutical company that develops, manufactures and markets generic and specialty medicines. Its products include a broad range of generic drugs, including complex formulations and injectable medicines, as well as branded therapies in areas such as neurology and endocrinology. The company also operates AvKARE, which distributes pharmaceuticals and medical products to government, institutional and commercial customers. Amneal serves customers in the United States and in international markets.

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