Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Receives Consensus Rating of “Buy” from Analysts

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) has received an average rating of “Buy” from the five ratings firms that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $10.80.

AMRX has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $9.00 to $12.00 in a research note on Monday, February 24th. StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. Finally, Barclays boosted their price objective on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd.

Insider Buying and Selling

In other news, Director Gautam Patel sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $8.90, for a total value of $712,000.00. Following the sale, the director now owns 1,808,886 shares of the company’s stock, valued at $16,099,085.40. The trade was a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $8.35, for a total transaction of $41,750,000.00. Following the sale, the insider now owns 48,578,209 shares in the company, valued at $405,628,045.15. The trade was a 9.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,240,000 shares of company stock valued at $43,754,000. 26.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. purchased a new position in shares of Amneal Pharmaceuticals in the fourth quarter valued at $52,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Amneal Pharmaceuticals in the 4th quarter worth about $81,000. Quest Partners LLC purchased a new position in Amneal Pharmaceuticals during the 3rd quarter valued at about $84,000. Straightline Group LLC bought a new stake in shares of Amneal Pharmaceuticals during the fourth quarter valued at about $92,000. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of Amneal Pharmaceuticals in the fourth quarter worth about $107,000. Institutional investors own 31.82% of the company’s stock.

Amneal Pharmaceuticals Stock Up 2.7 %

Shares of NASDAQ:AMRX opened at $8.89 on Tuesday. The business’s 50 day moving average is $8.40 and its 200 day moving average is $8.37. Amneal Pharmaceuticals has a 12-month low of $5.18 and a 12-month high of $9.48. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of -13.07 and a beta of 1.05.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its quarterly earnings data on Friday, February 28th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). The firm had revenue of $730.52 million for the quarter, compared to analysts’ expectations of $708.21 million. Amneal Pharmaceuticals had a negative return on equity of 346.26% and a negative net margin of 6.88%. During the same period in the prior year, the firm earned $0.14 earnings per share. As a group, equities research analysts expect that Amneal Pharmaceuticals will post 0.53 earnings per share for the current year.

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.