Amneal Pharmaceuticals (NASDAQ:AMRX) Stock Price Target Raised at Leerink Partners

Amneal Pharmaceuticals (NASDAQ:AMRX) had its target price increased by analysts at Leerink Partners from $23.00 to $25.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Leerink Partners‘s target price would indicate a potential upside of 28.53% from the company’s current price.

Other analysts also recently issued reports about the company. Piper Sandler reiterated an “overweight” rating and set a $21.00 target price on shares of Amneal Pharmaceuticals in a research report on Wednesday. UBS Group restated a “buy” rating on shares of Amneal Pharmaceuticals in a research report on Thursday, October 1st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $24.00 price target on shares of Amneal Pharmaceuticals in a research note on Thursday, October 29th. Wall Street Zen upgraded shares of Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 12th. Finally, Oppenheimer began coverage on shares of Amneal Pharmaceuticals in a research report on Wednesday, September 23rd. They issued an “outperform” rating and a $27.00 price objective on the stock. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Amneal Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $23.00.

Amneal Pharmaceuticals Price Performance

Shares of AMRX traded down $0.50 during mid-day trading on Thursday, hitting $19.45. The company’s stock had a trading volume of 3,401,210 shares, compared to its average volume of 2,429,972. The company has a current ratio of 1.87, a quick ratio of 1.44 and a debt-to-equity ratio of 5.61. Amneal Pharmaceuticals has a 1-year low of $11.29 and a 1-year high of $21.68. The firm has a market capitalization of $6.21 billion, a P/E ratio of 46.31, a P/E/G ratio of 2.36 and a beta of 1.24. The firm has a 50-day simple moving average of $19.26 and a 200 day simple moving average of $15.85.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $862.68 million for the quarter. Amneal Pharmaceuticals had a net margin of 4.17% and a return on equity of 283.50%. Analysts predict that Amneal Pharmaceuticals will post 0.95 EPS for the current fiscal year.

Insider Activity at Amneal Pharmaceuticals

In other news, EVP Jason B. Daly sold 210,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $17.40, for a total transaction of $3,654,000.00. Following the completion of the sale, the executive vice president directly owned 35,171 shares in the company, valued at $611,975.40. This represents a 85.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John Kiely sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $17.64, for a total value of $882,000.00. Following the completion of the transaction, the director owned 210,252 shares in the company, valued at approximately $3,708,845.28. This trade represents a 19.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 413,016 shares of company stock worth $7,216,567. 17.30% of the stock is currently owned by insiders.

Institutional Trading of Amneal Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Paralel Advisors LLC acquired a new stake in Amneal Pharmaceuticals during the 2nd quarter worth approximately $3,217,000. Renaissance Technologies LLC lifted its position in Amneal Pharmaceuticals by 1,586.8% during the first quarter. Renaissance Technologies LLC now owns 276,637 shares of the company’s stock valued at $3,439,000 after buying an additional 260,237 shares in the last quarter. California State Teachers Retirement System lifted its position in Amneal Pharmaceuticals by 37.6% during the first quarter. California State Teachers Retirement System now owns 207,239 shares of the company’s stock valued at $2,576,000 after buying an additional 56,588 shares in the last quarter. Congress Asset Management Co. grew its stake in Amneal Pharmaceuticals by 94.7% during the third quarter. Congress Asset Management Co. now owns 1,524,355 shares of the company’s stock worth $30,701,000 after buying an additional 741,577 shares during the period. Finally, Sei Investments Co. grew its stake in Amneal Pharmaceuticals by 26.3% during the first quarter. Sei Investments Co. now owns 706,681 shares of the company’s stock worth $8,784,000 after buying an additional 147,249 shares during the period. Hedge funds and other institutional investors own 31.82% of the company’s stock.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals, Inc is a specialty pharmaceutical company that develops, manufactures and commercializes a broad portfolio of generic and specialty medicines. Its products include oral, injectable and inhaled medications, as well as complex dosage forms and other products designed to address areas where manufacturing or formulation requirements can be more challenging.

The company’s generics business offers medicines across a range of therapeutic categories, including central nervous system, cardiovascular, gastrointestinal, anti-infective and other treatments.