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

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) have been assigned an average recommendation of “Moderate Buy” from the five analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $10.00.

A number of analysts have commented on AMRX shares. StockNews.com cut shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. Piper Sandler upped their price objective on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Truist Financial lifted 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.

Insiders Place Their Bets

In related news, Director Gautam Patel sold 62,590 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $8.01, for a total transaction of $501,345.90. Following the completion of the transaction, the director now directly owns 1,968,886 shares of the company’s stock, valued at approximately $15,770,776.86. This represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jason B. Daly sold 43,657 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $8.61, for a total value of $375,886.77. Following the transaction, the senior vice president now owns 13,665 shares of the company’s stock, valued at $117,655.65. This represents a 76.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 123,657 shares of company stock worth $1,016,687 in the last three months. 17.46% of the stock is owned by company insiders.

Institutional Trading of Amneal Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of AMRX. Gladius Capital Management LP purchased a new position in shares of Amneal Pharmaceuticals during the third quarter valued at approximately $37,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Amneal Pharmaceuticals during the 2nd quarter worth approximately $42,000. Xponance Inc. purchased a new position in Amneal Pharmaceuticals during the 2nd quarter valued at $65,000. Quest Partners LLC bought a new position in Amneal Pharmaceuticals in the 3rd quarter valued at $84,000. Finally, Profund Advisors LLC increased its stake in Amneal Pharmaceuticals by 8.1% in the second quarter. Profund Advisors LLC now owns 22,522 shares of the company’s stock worth $143,000 after purchasing an additional 1,680 shares during the period. Hedge funds and other institutional investors own 31.82% of the company’s stock.

Amneal Pharmaceuticals Trading Down 1.1 %

Shares of Amneal Pharmaceuticals stock opened at $7.97 on Thursday. The business’s fifty day simple moving average is $8.22 and its 200 day simple moving average is $8.05. The firm has a market capitalization of $2.47 billion, a P/E ratio of -11.72 and a beta of 1.10. Amneal Pharmaceuticals has a 12 month low of $5.01 and a 12 month 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.