Amneal Pharmaceuticals (NASDAQ:AMRX) Reaches New 52-Week High at $7.28

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $7.28 and last traded at $7.26, with a volume of 905707 shares. The stock had previously closed at $7.10.

Analysts Set New Price Targets

AMRX has been the subject of several research reports. Truist Financial reiterated a “buy” rating and set a $9.00 price objective (up from $7.00) on shares of Amneal Pharmaceuticals in a research note on Monday, May 6th. The Goldman Sachs Group increased their price objective on Amneal Pharmaceuticals from $6.25 to $8.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Piper Sandler lifted their target price on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $8.25.

Amneal Pharmaceuticals Stock Performance

The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -12.68 and a beta of 1.23. The company has a debt-to-equity ratio of 121.31, a current ratio of 1.65 and a quick ratio of 0.97. The firm has a fifty day moving average of $6.69 and a 200 day moving average of $6.04.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its earnings results on Friday, May 3rd. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.04. Amneal Pharmaceuticals had a positive return on equity of 234.06% and a negative net margin of 6.76%. The company had revenue of $659.19 million during the quarter, compared to analysts’ expectations of $623.08 million. As a group, sell-side analysts forecast that Amneal Pharmaceuticals, Inc. will post 0.52 EPS for the current year.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Amneal Pharmaceuticals by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 13,548,300 shares of the company’s stock valued at $57,174,000 after buying an additional 412,599 shares during the period. Gladius Capital Management LP purchased a new stake in shares of Amneal Pharmaceuticals during the 3rd quarter valued at approximately $39,000. Public Employees Retirement System of Ohio acquired a new position in Amneal Pharmaceuticals in the third quarter valued at approximately $160,000. Ritholtz Wealth Management grew its position in Amneal Pharmaceuticals by 40.5% in the fourth quarter. Ritholtz Wealth Management now owns 114,225 shares of the company’s stock worth $693,000 after acquiring an additional 32,937 shares during the period. Finally, Arizona State Retirement System acquired a new stake in Amneal Pharmaceuticals during the fourth quarter worth $183,000. 31.82% of the stock is currently owned by institutional investors and hedge funds.

Amneal Pharmaceuticals Company Profile

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.