Amneal Pharmaceuticals (NASDAQ:AMRX) Stock Price Up 3.6%

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)’s stock price rose 3.6% on Tuesday . The company traded as high as $8.63 and last traded at $8.62. Approximately 24,017 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 1,468,070 shares. The stock had previously closed at $8.32.

Analyst Ratings Changes

AMRX has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price objective for the company in a research report on Friday, September 6th. Barclays upped their price objective on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Finally, Truist Financial upped their price objective on shares of Amneal Pharmaceuticals from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Amneal Pharmaceuticals Stock Up 6.5 %

The company has a debt-to-equity ratio of 121.31, a current ratio of 1.33 and a quick ratio of 0.82. The firm’s 50-day moving average price is $8.06 and its 200 day moving average price is $7.01. The firm has a market cap of $2.73 billion, a P/E ratio of -15.79 and a beta of 1.18.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its earnings results on Friday, August 9th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Amneal Pharmaceuticals had a negative net margin of 6.72% and a positive return on equity of 1,235.03%. The firm had revenue of $701.78 million for the quarter, compared to analysts’ expectations of $657.43 million. On average, equities research analysts expect that Amneal Pharmaceuticals, Inc. will post 0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Nantahala Capital Management LLC lifted its holdings in Amneal Pharmaceuticals by 1.9% in the second quarter. Nantahala Capital Management LLC now owns 2,669,943 shares of the company’s stock worth $16,954,000 after acquiring an additional 50,000 shares during the last quarter. Algert Global LLC increased its stake in shares of Amneal Pharmaceuticals by 11.5% during the second quarter. Algert Global LLC now owns 452,724 shares of the company’s stock valued at $2,875,000 after acquiring an additional 46,537 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Amneal Pharmaceuticals by 32.0% during the second quarter. The Manufacturers Life Insurance Company now owns 94,195 shares of the company’s stock valued at $598,000 after acquiring an additional 22,850 shares during the period. Squarepoint Ops LLC bought a new stake in Amneal Pharmaceuticals during the second quarter worth approximately $707,000. Finally, BlackBarn Capital Partners LP boosted its holdings in Amneal Pharmaceuticals by 41.5% during the second quarter. BlackBarn Capital Partners LP now owns 2,000,000 shares of the company’s stock worth $12,700,000 after buying an additional 586,703 shares in the last quarter. Institutional investors own 31.82% of the company’s stock.

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.