Rubric Capital Management LP Increases Stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Rubric Capital Management LP increased its position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 12.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,721,778 shares of the company’s stock after acquiring an additional 1,179,830 shares during the quarter. Amneal Pharmaceuticals comprises 1.8% of Rubric Capital Management LP’s investment portfolio, making the stock its 18th largest holding. Rubric Capital Management LP owned approximately 3.47% of Amneal Pharmaceuticals worth $68,083,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AMRX. Swiss National Bank purchased a new stake in Amneal Pharmaceuticals in the 4th quarter worth about $1,291,000. Charles Schwab Investment Management Inc. boosted its stake in Amneal Pharmaceuticals by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,329,508 shares of the company’s stock worth $8,070,000 after purchasing an additional 26,875 shares during the period. Trexquant Investment LP bought a new position in Amneal Pharmaceuticals in the 4th quarter worth about $65,000. CastleKnight Management LP bought a new position in Amneal Pharmaceuticals in the 4th quarter worth about $604,000. Finally, Bellevue Group AG bought a new position in Amneal Pharmaceuticals in the 4th quarter worth about $155,000. Hedge funds and other institutional investors own 31.82% of the company’s stock.

Amneal Pharmaceuticals Price Performance

Shares of Amneal Pharmaceuticals stock opened at $8.70 on Friday. The company has a debt-to-equity ratio of 121.31, a current ratio of 1.33 and a quick ratio of 0.82. The business’s 50 day simple moving average is $7.95 and its two-hundred day simple moving average is $6.86. The stock has a market capitalization of $2.69 billion, a P/E ratio of -15.54 and a beta of 1.18. Amneal Pharmaceuticals, Inc. has a one year low of $3.36 and a one year high of $8.90.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its earnings results on Friday, August 9th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. Amneal Pharmaceuticals had a positive return on equity of 1,235.03% and a negative net margin of 6.72%. The firm had revenue of $701.78 million for the quarter, compared to analysts’ expectations of $657.43 million. Analysts forecast that Amneal Pharmaceuticals, Inc. will post 0.52 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AMRX shares. Barclays lifted their price target on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price target for the company in a research report on Friday, September 6th. Finally, Truist Financial boosted their target price on Amneal Pharmaceuticals from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Amneal Pharmaceuticals Profile

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.