Amneal Pharmaceuticals (NASDAQ:AMRX) Upgraded by JPMorgan Chase & Co. to Overweight Rating

JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals (NASDAQ:AMRX) from a neutral rating to an overweight rating in a research note published on Monday, MarketBeat reports. The firm currently has $12.00 price objective on the stock, up from their prior price objective of $9.00.

Other equities research analysts have also issued research reports about the company. StockNews.com lowered Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. Piper Sandler lifted their price target on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Amneal Pharmaceuticals has an average rating of “Buy” and a consensus target price of $10.60.

Amneal Pharmaceuticals Stock Performance

NASDAQ AMRX opened at $8.30 on Monday. The firm’s fifty day moving average price is $8.05 and its two-hundred day moving average price is $8.30. The stock has a market cap of $2.57 billion, a PE ratio of -12.21 and a beta of 1.10. Amneal Pharmaceuticals has a fifty-two week low of $5.01 and a fifty-two week high of $9.48.

Insider Buying and Selling

In related news, Director Gautam Patel sold 62,590 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $8.01, for a total transaction of $501,345.90. Following the transaction, the director now directly owns 1,968,886 shares of the company’s stock, valued at $15,770,776.86. This represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 160,000 shares of company stock valued at $1,292,000 in the last three months. Insiders own 26.56% of the company’s stock.

Hedge Funds Weigh In On Amneal Pharmaceuticals

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