Amneal Pharmaceuticals (NASDAQ:AMRX) Reaches New 52-Week High – Time to Buy?

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) reached a new 52-week high on Thursday . The company traded as high as $17.98 and last traded at $17.9010, with a volume of 241638 shares traded. The stock had previously closed at $17.20.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMRX. Zacks Research lowered Amneal Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. UBS Group increased their price objective on Amneal Pharmaceuticals from $19.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. Wall Street Zen raised Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Barclays increased their target price on shares of Amneal Pharmaceuticals from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Finally, Weiss Ratings lowered shares of Amneal Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.60.

Amneal Pharmaceuticals Trading Up 4.7%

The firm’s fifty day moving average price is $14.87 and its 200-day moving average price is $13.83. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 47.16 and a beta of 1.26.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter. Amneal Pharmaceuticals had a net margin of 4.01% and a negative return on equity of 313.96%. The firm had revenue of $722.52 million during the quarter. On average, sell-side analysts expect that Amneal Pharmaceuticals, Inc. will post 0.92 earnings per share for the current year.

Insider Activity

In related news, Director Deborah M. Autor sold 34,819 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $12.94, for a total transaction of $450,557.86. Following the transaction, the director owned 93,660 shares in the company, valued at $1,211,960.40. This trade represents a 27.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 17.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Amneal Pharmaceuticals by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,638 shares of the company’s stock valued at $793,000 after purchasing an additional 4,178 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Amneal Pharmaceuticals by 32.6% in the first quarter. Millennium Management LLC now owns 2,087,398 shares of the company’s stock valued at $17,492,000 after buying an additional 512,842 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Amneal Pharmaceuticals during the first quarter worth about $244,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Amneal Pharmaceuticals by 5.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 334,956 shares of the company’s stock worth $2,807,000 after acquiring an additional 16,536 shares during the period. Finally, Creative Planning grew its position in Amneal Pharmaceuticals by 61.9% in the 2nd quarter. Creative Planning now owns 23,896 shares of the company’s stock valued at $193,000 after buying an additional 9,136 shares during the last quarter. 31.82% of the stock is currently owned by hedge funds and other institutional investors.

Amneal Pharmaceuticals Company Profile

Amneal Pharmaceuticals, Inc is a publicly traded integrated healthcare company specializing in the development, manufacturing and distribution of generic and specialty pharmaceutical products. The company’s portfolio includes oral solids, injectables, transdermals and biosimilars, serving a broad range of therapeutic areas such as cardiovascular, neuroscience, oncology and women’s health. Alongside its generic offerings, Amneal has built a branded portfolio through strategic acquisitions and internal development, positioning itself across both high-volume generics and higher-value specialty treatments.

Since its founding in 2002 by brothers Chirag and Chintu Modgil, Amneal has pursued growth through organic investment in research and development as well as targeted M&A.