Amneal Pharmaceuticals (NASDAQ:AMRX) Price Target Raised to $11.00

Amneal Pharmaceuticals (NASDAQ:AMRX) had its price target raised by Piper Sandler from $9.00 to $11.00 in a research note published on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other brokerages have also weighed in on AMRX. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 target price for the company in a research note on Friday, September 6th. Truist Financial lifted their price objective on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Barclays lifted their price objective on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $10.00.

Amneal Pharmaceuticals Stock Performance

Shares of NASDAQ AMRX opened at $9.20 on Monday. The stock has a market cap of $2.85 billion, a PE ratio of -13.53 and a beta of 1.17. The business has a fifty day moving average of $8.53 and a two-hundred day moving average of $7.56. Amneal Pharmaceuticals has a 52-week low of $4.15 and a 52-week high of $9.32.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its earnings results on Friday, August 9th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. Amneal Pharmaceuticals had a positive return on equity of 1,235.03% and a negative net margin of 6.72%. The company had revenue of $701.78 million during the quarter, compared to analyst estimates of $657.43 million. Analysts predict that Amneal Pharmaceuticals will post 0.52 earnings per share for the current year.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Rothschild Investment LLC acquired a new position in shares of Amneal Pharmaceuticals during the 2nd quarter worth about $26,000. Gladius Capital Management LP bought a new position in shares of Amneal Pharmaceuticals during the 3rd quarter valued at about $37,000. DekaBank Deutsche Girozentrale bought a new position in shares of Amneal Pharmaceuticals during the 2nd quarter valued at about $42,000. Atlanta Consulting Group Advisors LLC bought a new position in shares of Amneal Pharmaceuticals during the 1st quarter valued at about $61,000. Finally, nVerses Capital LLC bought a new position in shares of Amneal Pharmaceuticals during the 2nd quarter valued at about $62,000. 31.82% of the stock is currently owned by institutional investors and hedge funds.

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.