Amneal Pharmaceuticals (NYSE:AMRX) Stock Price Down 4.1%

Amneal Pharmaceuticals, Inc. (NYSE:AMRX)’s stock price traded down 4.1% during trading on Thursday . The stock traded as low as $5.98 and last traded at $6.03. 21,232 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 2,069,058 shares. The stock had previously closed at $6.29.

AMRX has been the subject of several recent analyst reports. SVB Leerink reaffirmed a “hold” rating and issued a $5.50 target price on shares of Amneal Pharmaceuticals in a research report on Tuesday, December 15th. The Goldman Sachs Group upgraded Amneal Pharmaceuticals from a “sell” rating to a “buy” rating and lifted their price objective for the stock from $4.00 to $6.50 in a research note on Monday, March 15th. Guggenheim upgraded Amneal Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $5.50 price objective on the stock in a research note on Monday, December 14th. Barclays boosted their target price on Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Monday, March 1st. Finally, Piper Sandler boosted their target price on Amneal Pharmaceuticals from $7.00 to $9.00 and gave the stock an “overweight” rating in a report on Friday, March 19th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $6.25.

The stock’s 50 day moving average price is $6.07 and its 200 day moving average price is $4.95. The company has a current ratio of 2.31, a quick ratio of 1.60 and a debt-to-equity ratio of 8.20. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 0.29 and a beta of 1.27.

Amneal Pharmaceuticals (NYSE:AMRX) last posted its quarterly earnings data on Thursday, February 25th. The company reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. Amneal Pharmaceuticals had a net margin of 3.30% and a return on equity of 42.02%. The company had revenue of $510.00 million during the quarter, compared to the consensus estimate of $506.91 million. During the same period in the prior year, the business posted $0.08 EPS. The company’s quarterly revenue was up 28.4% on a year-over-year basis. On average, research analysts expect that Amneal Pharmaceuticals, Inc. will post 0.56 earnings per share for the current year.

In related news, EVP Joseph Todisco sold 36,330 shares of the firm’s stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $6.82, for a total value of $247,770.60. Following the completion of the sale, the executive vice president now directly owns 316,270 shares in the company, valued at approximately $2,156,961.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 26.32% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Wells Fargo & Company MN boosted its position in shares of Amneal Pharmaceuticals by 20.4% in the third quarter. Wells Fargo & Company MN now owns 372,123 shares of the company’s stock valued at $1,445,000 after acquiring an additional 63,124 shares during the period. California Public Employees Retirement System increased its stake in shares of Amneal Pharmaceuticals by 7.2% in the third quarter. California Public Employees Retirement System now owns 274,007 shares of the company’s stock valued at $1,063,000 after buying an additional 18,409 shares during the period. LPL Financial LLC acquired a new stake in Amneal Pharmaceuticals during the 3rd quarter valued at approximately $65,000. Victory Capital Management Inc. grew its position in shares of Amneal Pharmaceuticals by 108.5% during the 3rd quarter. Victory Capital Management Inc. now owns 97,637 shares of the company’s stock worth $379,000 after buying an additional 50,815 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of Amneal Pharmaceuticals by 9.0% during the 3rd quarter. Federated Hermes Inc. now owns 123,281 shares of the company’s stock worth $479,000 after buying an additional 10,199 shares during the period. Institutional investors and hedge funds own 33.49% of the company’s stock.

About Amneal Pharmaceuticals (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. The company operates in three segments: Generics, Specialty, and AvKARE. 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.

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