Amneal Pharmaceuticals (NASDAQ:AMRX) Shares Gap Up to $5.40

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) gapped up before the market opened on Wednesday . The stock had previously closed at $5.40, but opened at $5.76. Amneal Pharmaceuticals shares last traded at $5.79, with a volume of 637,860 shares traded.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMRX. StockNews.com cut Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 4th. Barclays boosted their target price on Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. The Goldman Sachs Group boosted their target price on Amneal Pharmaceuticals from $5.50 to $6.25 and gave the stock a “buy” rating in a research note on Monday, March 4th. Finally, Piper Sandler boosted their target price on Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $7.31.

Amneal Pharmaceuticals Stock Performance

The company has a market cap of $1.81 billion, a price-to-earnings ratio of -19.03 and a beta of 1.33. The firm has a 50-day simple moving average of $5.72 and a 200 day simple moving average of $5.18. The company has a quick ratio of 0.94, a current ratio of 1.63 and a debt-to-equity ratio of 121.31.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its quarterly earnings results on Friday, March 1st. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.05 by $0.07. The company had revenue of $616.98 million for the quarter, compared to analyst estimates of $630.67 million. Amneal Pharmaceuticals had a positive return on equity of 126.04% and a negative net margin of 3.51%. On average, sell-side analysts predict that Amneal Pharmaceuticals, Inc. will post 0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its holdings in shares of Amneal Pharmaceuticals by 271.7% in the first quarter. Assenagon Asset Management S.A. now owns 546,537 shares of the company’s stock valued at $3,312,000 after purchasing an additional 399,492 shares during the period. Sanders Morris Harris LLC acquired a new position in shares of Amneal Pharmaceuticals in the first quarter valued at approximately $1,513,000. Bellevue Group AG acquired a new position in shares of Amneal Pharmaceuticals in the fourth quarter valued at approximately $155,000. CastleKnight Management LP acquired a new position in shares of Amneal Pharmaceuticals in the fourth quarter valued at approximately $604,000. Finally, Rubric Capital Management LP increased its holdings in shares of Amneal Pharmaceuticals by 98.8% in the fourth quarter. Rubric Capital Management LP now owns 8,000,000 shares of the company’s stock valued at $48,560,000 after purchasing an additional 3,975,500 shares during the period. 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.