Amneal Pharmaceuticals (NASDAQ:AMRX) Rating Lowered to “Buy” at StockNews.com

Amneal Pharmaceuticals (NASDAQ:AMRX) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

A number of other equities research analysts also recently issued reports on AMRX. JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price target on the stock in a research note on Friday, September 6th. Truist Financial upped their price target on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler boosted their price objective on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Monday, November 11th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Amneal Pharmaceuticals Price Performance

Shares of NASDAQ:AMRX traded up $0.06 during midday trading on Thursday, reaching $7.75. 1,026,292 shares of the company’s stock were exchanged, compared to its average volume of 1,381,090. The firm’s 50 day simple moving average is $8.43 and its two-hundred day simple moving average is $7.92. Amneal Pharmaceuticals has a fifty-two week low of $5.01 and a fifty-two week high of $9.48. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -11.40 and a beta of 1.12.

Insider Buying and Selling at Amneal Pharmaceuticals

In other news, SVP Jason B. Daly sold 43,657 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $8.61, for a total transaction of $375,886.77. Following the completion of the transaction, the senior vice president now directly owns 13,665 shares of the company’s stock, valued at approximately $117,655.65. The trade was a 76.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 26.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Amneal Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in Amneal Pharmaceuticals by 4.9% in the third quarter. Franklin Resources Inc. now owns 89,887 shares of the company’s stock valued at $778,000 after buying an additional 4,178 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Amneal Pharmaceuticals by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock valued at $31,511,000 after acquiring an additional 378,136 shares during the last quarter. Barclays PLC raised its position in shares of Amneal Pharmaceuticals by 134.1% during the 3rd quarter. Barclays PLC now owns 296,384 shares of the company’s stock worth $2,466,000 after acquiring an additional 169,756 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Amneal Pharmaceuticals during the 3rd quarter worth about $311,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Amneal Pharmaceuticals during the 3rd quarter worth approximately $687,000. Institutional investors and hedge funds own 31.82% of the company’s stock.

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.