The Manufacturers Life Insurance Company Grows Stock Position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

The Manufacturers Life Insurance Company increased its stake in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 32.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,195 shares of the company’s stock after purchasing an additional 22,850 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Amneal Pharmaceuticals were worth $598,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AMRX. Squarepoint Ops LLC acquired a new position in Amneal Pharmaceuticals during the 2nd quarter worth approximately $707,000. BlackBarn Capital Partners LP grew its holdings in Amneal Pharmaceuticals by 41.5% during the second quarter. BlackBarn Capital Partners LP now owns 2,000,000 shares of the company’s stock worth $12,700,000 after acquiring an additional 586,703 shares during the period. Xponance Inc. purchased a new position in Amneal Pharmaceuticals in the second quarter worth $65,000. Profund Advisors LLC lifted its holdings in Amneal Pharmaceuticals by 8.1% in the second quarter. Profund Advisors LLC now owns 22,522 shares of the company’s stock valued at $143,000 after acquiring an additional 1,680 shares during the period. Finally, Rubric Capital Management LP lifted its holdings in Amneal Pharmaceuticals by 12.4% in the second quarter. Rubric Capital Management LP now owns 10,721,778 shares of the company’s stock valued at $68,083,000 after acquiring an additional 1,179,830 shares during the period. 31.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMRX has been the subject of a number of research analyst reports. Barclays increased their price target on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 target price for the company in a report on Friday, September 6th. Finally, Truist Financial lifted their price target on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.40.

Amneal Pharmaceuticals Trading Up 1.7 %

NASDAQ:AMRX opened at $8.81 on Wednesday. The company has a market capitalization of $2.72 billion, a P/E ratio of -15.73 and a beta of 1.18. The firm has a 50-day moving average price of $8.37 and a two-hundred day moving average price of $7.21. Amneal Pharmaceuticals, Inc. has a twelve month low of $3.36 and a twelve month high of $8.94.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its quarterly earnings data on Friday, August 9th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Amneal Pharmaceuticals had a negative net margin of 6.72% and a positive return on equity of 1,235.03%. The business had revenue of $701.78 million during the quarter, compared to analysts’ expectations of $657.43 million. On average, equities research analysts predict that Amneal Pharmaceuticals, Inc. will post 0.52 earnings per share for the current year.

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.