Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Receives $10.00 Average Price Target from Analysts

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) has been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $10.00.

Several brokerages have recently weighed in on AMRX. StockNews.com cut shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. Piper Sandler upped their target price on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, November 11th.

Insider Buying and Selling

In related news, SVP Jason B. Daly sold 43,657 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $8.61, for a total transaction of $375,886.77. Following the transaction, the senior vice president now directly 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gautam Patel sold 17,410 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.01, for a total value of $139,454.10. Following the completion of the sale, the director now directly owns 2,031,476 shares of the company’s stock, valued at approximately $16,272,122.76. This represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 203,657 shares of company stock worth $1,667,887 in the last 90 days. 17.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AMRX. JPMorgan Chase & Co. lifted its stake in shares of Amneal Pharmaceuticals by 149.7% during the third quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company’s stock worth $10,792,000 after buying an additional 777,568 shares during the period. Barclays PLC lifted its position in Amneal Pharmaceuticals by 134.1% during the 3rd quarter. Barclays PLC now owns 296,384 shares of the company’s stock worth $2,466,000 after acquiring an additional 169,756 shares during the period. State Street Corp grew its stake in Amneal Pharmaceuticals by 3.8% during the 3rd quarter. State Street Corp now owns 3,514,721 shares of the company’s stock valued at $29,242,000 after purchasing an additional 127,753 shares during the last quarter. Geode Capital Management LLC grew its stake in Amneal Pharmaceuticals by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock valued at $31,511,000 after purchasing an additional 378,136 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of Amneal Pharmaceuticals in the fourth quarter valued at about $520,000. Institutional investors and hedge funds own 31.82% of the company’s stock.

Amneal Pharmaceuticals Price Performance

NASDAQ:AMRX opened at $7.98 on Monday. Amneal Pharmaceuticals has a 1-year low of $5.01 and a 1-year high of $9.48. The company has a 50-day moving average of $8.15 and a 200 day moving average of $8.24. The firm has a market cap of $2.47 billion, a PE ratio of -11.74 and a beta of 1.10.

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.