Amneal Pharmaceuticals Inc (NYSE:AMRX) was up 18.2% during trading on Monday . The stock traded as high as $2.89 and last traded at $2.86, approximately 2,328,653 shares traded hands during mid-day trading. An increase of 68% from the average daily volume of 1,386,763 shares. The stock had previously closed at $2.42.
Several research analysts recently commented on AMRX shares. Raymond James downgraded Amneal Pharmaceuticals from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $13.00 to $8.50 in a research note on Wednesday, July 10th. SunTrust Banks reissued a “buy” rating and issued a $5.00 price objective on shares of Amneal Pharmaceuticals in a research note on Tuesday, August 6th. Cantor Fitzgerald reduced their price objective on Amneal Pharmaceuticals from $35.00 to $14.00 and set an “overweight” rating for the company in a research note on Wednesday, June 12th. BMO Capital Markets reduced their price objective on Amneal Pharmaceuticals from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Tuesday, August 6th. Finally, ValuEngine raised Amneal Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $12.13.
The firm has a market capitalization of $723.80 million, a price-to-earnings ratio of 2.93, a P/E/G ratio of 0.30 and a beta of 1.41. The business has a 50 day simple moving average of $3.76 and a 200-day simple moving average of $9.45. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.41 and a current ratio of 2.17.
In other Amneal Pharmaceuticals news, SVP Pradeep Bhadauria purchased 30,000 shares of the stock in a transaction dated Friday, August 16th. The stock was acquired at an average cost of $2.41 per share, for a total transaction of $72,300.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder International Ltd Fosun purchased 1,642,300 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $3.04 per share, with a total value of $4,992,592.00. The disclosure for this purchase can be found here. Insiders acquired a total of 1,738,966 shares of company stock valued at $5,257,557 over the last ninety days. Corporate insiders own 26.34% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMRX. Quantamental Technologies LLC boosted its holdings in Amneal Pharmaceuticals by 34.0% during the 1st quarter. Quantamental Technologies LLC now owns 6,700 shares of the company’s stock valued at $95,000 after acquiring an additional 1,700 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Amneal Pharmaceuticals by 790.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,766 shares of the company’s stock valued at $56,000 after acquiring an additional 6,894 shares during the period. Bank of Montreal Can boosted its holdings in Amneal Pharmaceuticals by 87.5% during the 2nd quarter. Bank of Montreal Can now owns 8,475 shares of the company’s stock valued at $60,000 after acquiring an additional 3,954 shares during the period. Meeder Asset Management Inc. boosted its holdings in Amneal Pharmaceuticals by 785.6% during the 1st quarter. Meeder Asset Management Inc. now owns 11,664 shares of the company’s stock valued at $166,000 after acquiring an additional 10,347 shares during the period. Finally, First Mercantile Trust Co. boosted its holdings in Amneal Pharmaceuticals by 40.9% during the 1st quarter. First Mercantile Trust Co. now owns 11,932 shares of the company’s stock valued at $169,000 after acquiring an additional 3,461 shares during the period. Institutional investors and hedge funds own 35.06% of the company’s stock.
Amneal Pharmaceuticals Company Profile (NYSE:AMRX)
Amneal Pharmaceuticals, Inc, together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic and specialty pharmaceutical products for various dosage forms and therapeutic areas. It operates through two segments, Generics and Specialty. The Generics segment develops, manufactures, and commercializes complex oral solids, injectables, ophthalmics, liquids, topicals, softgels, inhalation products, and transdermals across a range of therapeutic categories.
See Also: Stop Order Uses For Individual Investors
Receive News & Ratings for Amneal Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amneal Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.