Amneal Pharmaceuticals (NASDAQ:AMRX) Stock Price Expected to Rise, Piper Sandler Analyst Says

Amneal Pharmaceuticals (NASDAQ:AMRX) had its target price lifted by stock analysts at Piper Sandler from $9.00 to $11.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 18.92% from the stock’s previous close.

A number of other research firms also recently weighed in on AMRX. Truist Financial upped their target price on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Barclays upped their price objective on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 target price on the stock in a report on Friday, September 6th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $10.00.

Amneal Pharmaceuticals Trading Up 0.5 %

NASDAQ AMRX opened at $9.25 on Monday. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -13.53 and a beta of 1.17. The company has a 50 day moving average of $8.54 and a 200-day moving average of $7.59. Amneal Pharmaceuticals has a 1-year low of $4.15 and a 1-year high of $9.48.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Hennessy Advisors Inc. acquired a new stake in shares of Amneal Pharmaceuticals in the 2nd quarter valued at approximately $8,818,000. Rubric Capital Management LP boosted its position 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 buying an additional 1,179,830 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Amneal Pharmaceuticals by 701.8% during the second quarter. Acadian Asset Management LLC now owns 811,853 shares of the company’s stock worth $5,148,000 after buying an additional 710,598 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Amneal Pharmaceuticals by 114.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,204,994 shares of the company’s stock worth $10,026,000 after buying an additional 642,065 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Amneal Pharmaceuticals by 17.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company’s stock valued at $27,205,000 after acquiring an additional 641,405 shares during the last quarter. Institutional investors and hedge funds 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.