Amneal Pharmaceuticals (NASDAQ:AMRX) Given New $11.00 Price Target at Barclays

Amneal Pharmaceuticals (NASDAQ:AMRX) had its target price lifted by Barclays from $10.00 to $11.00 in a research note published on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

AMRX has been the topic of a number of other reports. Piper Sandler upped their target price on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Monday, November 11th. StockNews.com lowered shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $9.00 to $12.00 in a research report on Monday, February 24th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $10.80.

Amneal Pharmaceuticals Stock Performance

NASDAQ:AMRX opened at $8.76 on Monday. Amneal Pharmaceuticals has a 1 year low of $5.18 and a 1 year high of $9.48. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -12.88 and a beta of 1.10. The stock has a fifty day moving average price of $8.12 and a two-hundred day moving average price of $8.33.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its quarterly earnings results on Friday, February 28th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). Amneal Pharmaceuticals had a negative return on equity of 346.26% and a negative net margin of 6.88%. The company had revenue of $730.52 million during the quarter, compared to analyst estimates of $708.21 million. During the same period last year, the firm earned $0.14 earnings per share. On average, analysts predict that Amneal Pharmaceuticals will post 0.53 EPS for the current year.

Insider Buying and Selling

In other Amneal Pharmaceuticals news, Director Gautam Patel sold 17,410 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.01, for a total transaction of $139,454.10. Following the completion of the sale, the director now directly owns 2,031,476 shares in the company, valued at $16,272,122.76. This represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 160,000 shares of company stock valued at $1,292,000. Insiders own 26.56% of the company’s stock.

Institutional Trading of Amneal Pharmaceuticals

A number of institutional investors have recently modified their holdings of AMRX. Gladius Capital Management LP acquired a new position in Amneal Pharmaceuticals during the third quarter valued at approximately $37,000. GF Fund Management CO. LTD. acquired a new position in shares of Amneal Pharmaceuticals during the 4th quarter valued at $52,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Amneal Pharmaceuticals during the 4th quarter worth $81,000. Quest Partners LLC acquired a new stake in Amneal Pharmaceuticals in the 3rd quarter valued at $84,000. Finally, Straightline Group LLC purchased a new position in Amneal Pharmaceuticals in the fourth quarter valued at about $92,000. Hedge funds and other institutional investors 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.