Amneal Pharmaceuticals (NASDAQ:AMRX) Sees Strong Trading Volume

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRXGet Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 454,208 shares changed hands during mid-day trading, a decline of 69% from the previous session’s volume of 1,481,910 shares.The stock last traded at $5.96 and had previously closed at $5.81.

Analysts Set New Price Targets

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

Get Our Latest Analysis on Amneal Pharmaceuticals

Amneal Pharmaceuticals Stock Up 2.8 %

The firm has a 50 day simple moving average of $5.67 and a 200 day simple moving average of $5.01. 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:AMRXGet Free Report) last released its quarterly 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 for the quarter, compared to analysts’ expectations 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, equities analysts forecast that Amneal Pharmaceuticals, Inc. will post 0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AMRX. Vanguard Group Inc. boosted its stake in Amneal Pharmaceuticals by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 13,642,387 shares of the company’s stock valued at $82,809,000 after buying an additional 94,087 shares during the last quarter. BlackRock Inc. raised its position in Amneal Pharmaceuticals by 10.8% during the 2nd quarter. BlackRock Inc. now owns 8,007,996 shares of the company’s stock valued at $24,825,000 after purchasing an additional 778,523 shares in the last quarter. Rubric Capital Management LP raised its position in Amneal Pharmaceuticals by 98.8% during the 4th 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 in the last quarter. Millennium Management LLC increased its holdings in shares of Amneal Pharmaceuticals by 153.3% in the 4th quarter. Millennium Management LLC now owns 5,013,378 shares of the company’s stock valued at $9,977,000 after acquiring an additional 3,034,426 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Amneal Pharmaceuticals by 935.8% in the 4th quarter. Morgan Stanley now owns 4,220,998 shares of the company’s stock valued at $8,400,000 after acquiring an additional 3,813,489 shares during the period. Hedge funds and other institutional investors own 31.82% of the company’s stock.

Amneal Pharmaceuticals Company Profile

(Get Free Report)

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.

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