Amneal Pharmaceuticals (NASDAQ:AMRX) Lowered to “Buy” Rating by StockNews.com

StockNews.com cut shares of Amneal Pharmaceuticals (NASDAQ:AMRX) from a strong-buy rating to a buy rating in a research report released on Thursday morning.

A number of other equities research analysts also recently commented on the company. Truist Financial lifted their target price on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Piper Sandler raised their target price on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price target on the stock in a report on Friday, September 6th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Amneal Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Amneal Pharmaceuticals Stock Up 0.4 %

AMRX opened at $7.78 on Thursday. The firm’s 50-day moving average price is $8.42 and its 200-day moving average price is $7.94. The company has a market cap of $2.41 billion, a P/E ratio of -11.44 and a beta of 1.12. Amneal Pharmaceuticals has a 52-week low of $5.01 and a 52-week high of $9.48.

Insider Activity

In other news, SVP Jason B. Daly sold 43,657 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $8.61, for a total transaction of $375,886.77. Following the completion of the transaction, the senior vice president now directly owns 13,665 shares of the company’s stock, valued at $117,655.65. This represents a 76.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 26.56% of the company’s stock.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rothschild Investment LLC purchased a new position in shares of Amneal Pharmaceuticals in the second quarter valued at approximately $26,000. Gladius Capital Management LP purchased a new position in Amneal Pharmaceuticals in the 3rd quarter worth approximately $37,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Amneal Pharmaceuticals in the second quarter valued at approximately $42,000. nVerses Capital LLC acquired a new stake in shares of Amneal Pharmaceuticals in the second quarter valued at approximately $62,000. Finally, Quest Partners LLC purchased a new position in Amneal Pharmaceuticals during the third quarter worth approximately $84,000. Hedge funds and other institutional investors 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.