Brokerages Set Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Target Price at $10.00

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) has been assigned an average rating of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $10.00.

AMRX has been the topic of several recent research reports. Truist Financial upped their target price 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. Piper Sandler raised their price target on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. StockNews.com upgraded shares of Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th. Barclays lifted their price target on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note 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 price objective on the stock in a research report on Friday, September 6th.

Insiders Place Their Bets

In related news, SVP Jason B. Daly sold 43,657 shares of Amneal Pharmaceuticals stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $8.61, for a total value of $375,886.77. Following the completion of the transaction, the senior vice president now owns 13,665 shares in the company, valued at $117,655.65. The trade was a 76.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 26.56% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in Amneal Pharmaceuticals by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock valued at $31,511,000 after acquiring an additional 378,136 shares during the last quarter. Barclays PLC lifted its position in Amneal Pharmaceuticals by 134.1% during the third quarter. Barclays PLC now owns 296,384 shares of the company’s stock worth $2,466,000 after buying an additional 169,756 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Amneal Pharmaceuticals during the third quarter worth $311,000. Wellington Management Group LLP purchased a new stake in Amneal Pharmaceuticals in the 3rd quarter valued at $687,000. Finally, State Street Corp increased its stake in shares of Amneal Pharmaceuticals by 3.8% in the 3rd quarter. State Street Corp now owns 3,514,721 shares of the company’s stock worth $29,242,000 after acquiring an additional 127,753 shares during the last quarter. 31.82% of the stock is currently owned by institutional investors and hedge funds.

Amneal Pharmaceuticals Stock Performance

Shares of AMRX opened at $8.39 on Wednesday. The stock has a market capitalization of $2.60 billion, a PE ratio of -12.34 and a beta of 1.17. The company’s fifty day moving average is $8.57 and its 200 day moving average is $7.72. Amneal Pharmaceuticals has a fifty-two week low of $4.16 and a fifty-two week high of $9.48.

Amneal Pharmaceuticals Company 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.