Truist Financial Reaffirms “Buy” Rating for Amneal Pharmaceuticals (NASDAQ:AMRX)

Truist Financial restated their buy rating on shares of Amneal Pharmaceuticals (NASDAQ:AMRX) in a research report report published on Monday, Benzinga reports. The brokerage currently has a $9.00 price target on the stock, up from their prior price target of $7.00.

A number of other research firms have also recently issued reports on AMRX. The Goldman Sachs Group raised their target price on Amneal Pharmaceuticals from $5.50 to $6.25 and gave the company a buy rating in a research note on Monday, March 4th. Barclays increased their price objective on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an overweight rating in a report on Monday, January 29th. Piper Sandler boosted their target price on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an overweight rating in a research note on Thursday, March 21st. Finally, StockNews.com cut shares of Amneal Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Monday, March 4th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $8.25.

Amneal Pharmaceuticals Price Performance

NASDAQ AMRX opened at $6.65 on Monday. Amneal Pharmaceuticals has a one year low of $1.74 and a one year high of $6.90. The company has a 50-day simple moving average of $5.78 and a 200-day simple moving average of $5.32. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 121.31.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its earnings results on Friday, March 1st. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.05 by $0.07. The company had revenue of $616.98 million during the quarter, compared to analyst estimates of $630.67 million. Amneal Pharmaceuticals had a positive return on equity of 234.06% and a negative net margin of 6.76%. Equities analysts forecast that Amneal Pharmaceuticals will post 0.5 earnings per share for the current year.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several institutional investors have recently bought and sold shares of AMRX. Aigen Investment Management LP acquired a new position in Amneal Pharmaceuticals during the 3rd quarter valued at about $118,000. Assenagon Asset Management S.A. raised its holdings in Amneal Pharmaceuticals by 122.4% during the third quarter. Assenagon Asset Management S.A. now owns 515,233 shares of the company’s stock worth $2,174,000 after purchasing an additional 283,524 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Amneal Pharmaceuticals by 27.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 492,304 shares of the company’s stock worth $2,078,000 after purchasing an additional 107,090 shares in the last quarter. Caxton Associates LP acquired a new stake in Amneal Pharmaceuticals in the third quarter worth approximately $508,000. Finally, Public Employees Retirement System of Ohio bought a new position in Amneal Pharmaceuticals during the 3rd quarter valued at $160,000. Institutional investors and hedge funds own 31.82% of the company’s stock.

About Amneal Pharmaceuticals

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.