Amneal Pharmaceuticals’ (AMRX) “Buy” Rating Reiterated at Truist Financial

Truist Financial reissued their buy rating on shares of Amneal Pharmaceuticals (NASDAQ:AMRX) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $9.00 price target on the stock, up from their prior price target of $7.00.

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

Amneal Pharmaceuticals Stock Performance

Shares of NASDAQ:AMRX opened at $6.59 on Monday. Amneal Pharmaceuticals has a 1 year low of $1.74 and a 1 year high of $6.90. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of -11.77 and a beta of 1.33. 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 company’s 50 day simple moving average is $5.79 and its 200 day simple moving average is $5.34.

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

Institutional Investors Weigh In On Amneal Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in AMRX. SG Americas Securities LLC bought a new stake in shares of Amneal Pharmaceuticals in the third quarter worth $221,000. Raymond James & Associates lifted its holdings in Amneal Pharmaceuticals by 12.4% during the 3rd quarter. Raymond James & Associates now owns 181,387 shares of the company’s stock worth $765,000 after buying an additional 20,000 shares during the period. Bank of New York Mellon Corp grew its position in shares of Amneal Pharmaceuticals by 9.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 688,362 shares of the company’s stock valued at $2,905,000 after buying an additional 60,024 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Amneal Pharmaceuticals by 10.3% in the third quarter. Principal Financial Group Inc. now owns 54,432 shares of the company’s stock valued at $230,000 after buying an additional 5,092 shares during the period. Finally, LSV Asset Management increased its stake in shares of Amneal Pharmaceuticals by 10.5% in the third quarter. LSV Asset Management now owns 1,429,300 shares of the company’s stock valued at $6,032,000 after buying an additional 136,100 shares during the period. 31.82% of the stock is owned by institutional investors.

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.