Zacks Research Downgrades Amneal Pharmaceuticals (NASDAQ:AMRX) to Hold

Key Points

• Zacks Research downgraded Amneal Pharmaceuticals (NASDAQ:AMRX) from "strong-buy" to "hold."
• Analyst coverage is mixed: five firms rate the stock Buy and two rate Hold, with an average rating of "Moderate Buy" and an average target price of $14.20; Truist raised its target to $17 while Barclays initiated with an Overweight/$15 target.
• Shares opened at $12.32, the company has a market cap of $3.88 billion and a P/E of 53.6 with a 1-year range of $6.68–$15.42, and institutional investors (31.82% ownership) have recently increased positions, notably Assenagon and Morgan Stanley.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research analysts have also weighed in on the company. Truist Financial increased their price objective on Amneal Pharmaceuticals from $15.00 to $17.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Barclays began coverage on Amneal Pharmaceuticals in a report on Monday, December 8th. They issued an "overweight" rating and a $15.00 price objective on the stock. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Amneal Pharmaceuticals in a report on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $14.20.

Amneal Pharmaceuticals Price Performance

Shares of NASDAQ:AMRX opened at $12.32 on Monday. The business's 50-day moving average is $13.42 and its 200 day moving average is $12.32. Amneal Pharmaceuticals has a 1 year low of $6.68 and a 1 year high of $15.42. The firm has a market capitalization of $3.88 billion, a P/E ratio of 53.57 and a beta of 1.32.

Institutional Trading of Amneal Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of AMRX. Assenagon Asset Management S.A. grew its holdings in Amneal Pharmaceuticals by 75.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,761,739 shares of the company's stock worth $47,398,000 after acquiring an additional 1,611,698 shares during the period. Westshore Wealth LLC acquired a new stake in Amneal Pharmaceuticals during the third quarter worth about $13,833,000. Morgan Stanley grew its holdings in Amneal Pharmaceuticals by 37.5% during the fourth quarter. Morgan Stanley now owns 4,818,099 shares of the company's stock worth $60,708,000 after acquiring an additional 1,315,018 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Amneal Pharmaceuticals by 1,440.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,135,799 shares of the company's stock worth $11,790,000 after acquiring an additional 1,062,045 shares during the period. Finally, Penn Capital Management Company LLC acquired a new stake in Amneal Pharmaceuticals during the fourth quarter worth about $12,655,000. 31.82% of the stock is owned by institutional investors and hedge funds.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals, Inc is a publicly traded integrated healthcare company specializing in the development, manufacturing and distribution of generic and specialty pharmaceutical products. The company’s portfolio includes oral solids, injectables, transdermals and biosimilars, serving a broad range of therapeutic areas such as cardiovascular, neuroscience, oncology and women’s health. Alongside its generic offerings, Amneal has built a branded portfolio through strategic acquisitions and internal development, positioning itself across both high-volume generics and higher-value specialty treatments.

Since its founding in 2002 by brothers Chirag and Chintu Modgil, Amneal has pursued growth through organic investment in research and development as well as targeted M&A.

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