Brokerages Set Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) PT at $10.00

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) has been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $10.00.

A number of brokerages have issued reports on AMRX. StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. Piper Sandler boosted their target price on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th.

Amneal Pharmaceuticals Trading Down 1.5 %

Shares of AMRX opened at $7.85 on Monday. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of -11.54 and a beta of 1.10. The firm’s fifty day simple moving average is $8.14 and its 200-day simple moving average is $8.23. Amneal Pharmaceuticals has a twelve month low of $5.01 and a twelve month high of $9.48.

Insider Activity

In related news, Director Gautam Patel sold 80,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $8.14, for a total value of $651,200.00. Following the completion of the sale, the director now owns 1,888,886 shares in the company, valued at $15,375,532.04. This represents a 4.06 % 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, SVP Jason B. Daly sold 43,657 shares of the firm’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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 203,657 shares of company stock valued at $1,667,887. Insiders own 17.46% of the company’s stock.

Institutional Trading of Amneal Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its holdings in shares of Amneal Pharmaceuticals by 4.9% in the third quarter. Franklin Resources Inc. now owns 89,887 shares of the company’s stock valued at $778,000 after purchasing an additional 4,178 shares during the period. Gladius Capital Management LP purchased a new position in Amneal Pharmaceuticals in the 3rd quarter valued at $37,000. Arizona State Retirement System increased its stake in Amneal Pharmaceuticals by 13.6% in the 4th quarter. Arizona State Retirement System now owns 40,401 shares of the company’s stock valued at $320,000 after buying an additional 4,851 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Amneal Pharmaceuticals by 13.6% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 46,240 shares of the company’s stock worth $366,000 after buying an additional 5,523 shares during the last quarter. Finally, Segall Bryant & Hamill LLC lifted its stake in shares of Amneal Pharmaceuticals by 1.6% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 489,162 shares of the company’s stock worth $4,070,000 after acquiring an additional 7,661 shares during the period. 31.82% of the stock is owned by hedge funds and other institutional investors.

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.