Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Receives $10.80 Consensus PT from Brokerages

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) has received an average rating of “Buy” from the five ratings firms that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have covered the stock in the last year is $10.80.

AMRX has been the subject of a number of research reports. StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. Barclays boosted their target price on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their price target for the company from $9.00 to $12.00 in a report on Monday, February 24th.

Amneal Pharmaceuticals Trading Down 1.1 %

Amneal Pharmaceuticals stock opened at $8.27 on Tuesday. The stock has a fifty day moving average price of $8.42 and a 200 day moving average price of $8.37. Amneal Pharmaceuticals has a 52 week low of $5.18 and a 52 week high of $9.48. The firm has a market capitalization of $2.56 billion, a P/E ratio of -12.16 and a beta of 1.05.

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

Insider Activity

In other Amneal Pharmaceuticals news, Director Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals 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 sale, the director now directly owns 1,968,886 shares in the company, valued at $15,770,776.86. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $8.35, for a total value of $41,750,000.00. Following the completion of the transaction, the insider now directly owns 48,578,209 shares in the company, valued at approximately $405,628,045.15. The trade was a 9.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,240,000 shares of company stock worth $43,754,000 over the last 90 days. Company insiders own 26.56% of the company’s stock.

Institutional Trading of Amneal Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new stake in shares of Amneal Pharmaceuticals in the 4th quarter worth about $52,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Amneal Pharmaceuticals in the fourth quarter worth about $81,000. Quest Partners LLC bought a new stake in Amneal Pharmaceuticals in the third quarter valued at about $84,000. Straightline Group LLC acquired a new stake in Amneal Pharmaceuticals during the fourth quarter valued at approximately $92,000. Finally, Brevan Howard Capital Management LP bought a new position in Amneal Pharmaceuticals during the 4th quarter worth approximately $107,000. 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.