Truist Financial Reiterates “Buy” Rating for Amneal Pharmaceuticals (NASDAQ:AMRX)

Amneal Pharmaceuticals (NASDAQ:AMRX)‘s stock had its “buy” rating restated by investment analysts at Truist Financial in a research report issued on Monday, Benzinga reports. They presently have a $9.00 target price on the stock, up from their previous target price of $7.00. Truist Financial’s target price would indicate a potential upside of 38.25% from the company’s current price.

Several other research firms have also recently issued reports on AMRX. StockNews.com cut Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, March 4th. The Goldman Sachs Group increased their price objective on shares of Amneal Pharmaceuticals from $5.50 to $6.25 and gave the stock a “buy” rating in a report on Monday, March 4th. Piper Sandler boosted their target price on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Finally, Barclays lifted their price target on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Amneal Pharmaceuticals has an average rating of “Buy” and a consensus target price of $8.25.

Amneal Pharmaceuticals Price Performance

Shares of NASDAQ:AMRX opened at $6.51 on Monday. Amneal Pharmaceuticals has a one year low of $1.74 and a one year high of $6.90. The stock has a market cap of $2.00 billion, a PE ratio of -11.62 and a beta of 1.33. The business’s fifty day moving average price is $5.79 and its two-hundred day moving average price is $5.34. The company has a debt-to-equity ratio of 121.31, a quick ratio of 0.97 and a current ratio of 1.65.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AMRX. SG Americas Securities LLC purchased a new position in shares of Amneal Pharmaceuticals during the 3rd quarter valued at approximately $221,000. Raymond James & Associates grew 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 acquiring an additional 20,000 shares in the last quarter. Bank of New York Mellon Corp increased 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 worth $2,905,000 after purchasing an additional 60,024 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Amneal Pharmaceuticals by 10.3% in the 3rd quarter. Principal Financial Group Inc. now owns 54,432 shares of the company’s stock valued at $230,000 after purchasing an additional 5,092 shares in the last quarter. Finally, LSV Asset Management lifted its position in shares of Amneal Pharmaceuticals by 10.5% during the third quarter. LSV Asset Management now owns 1,429,300 shares of the company’s stock worth $6,032,000 after purchasing an additional 136,100 shares during the last quarter. Hedge funds and other institutional investors 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.