Zacks Research Downgrades Amneal Pharmaceuticals (NASDAQ:AMRX) to Hold

Amneal Pharmaceuticals (NASDAQ:AMRX) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Barclays started coverage on shares of Amneal Pharmaceuticals in a research report on Monday, December 8th. They issued an “overweight” rating and a $15.00 price objective on the stock. Truist Financial boosted their price target on shares of Amneal Pharmaceuticals from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Amneal Pharmaceuticals in a research report on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.20.

Amneal Pharmaceuticals Price Performance

Shares of NASDAQ AMRX traded up $0.25 during midday trading on Monday, reaching $12.57. 129,312 shares of the stock were exchanged, compared to its average volume of 2,521,725. The business has a 50-day simple moving average of $13.42 and a two-hundred day simple moving average of $12.32. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 54.78 and a beta of 1.32. Amneal Pharmaceuticals has a 12 month low of $6.68 and a 12 month high of $15.42.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AMRX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Amneal Pharmaceuticals by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,638 shares of the company’s stock worth $793,000 after purchasing an additional 4,178 shares in the last quarter. Millennium Management LLC grew its position in shares of Amneal Pharmaceuticals by 32.6% during the 1st quarter. Millennium Management LLC now owns 2,087,398 shares of the company’s stock worth $17,492,000 after purchasing an additional 512,842 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Amneal Pharmaceuticals during the 1st quarter worth approximately $244,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Amneal Pharmaceuticals by 5.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 334,956 shares of the company’s stock worth $2,807,000 after purchasing an additional 16,536 shares in the last quarter. Finally, Creative Planning grew its position in shares of Amneal Pharmaceuticals by 61.9% during the 2nd quarter. Creative Planning now owns 23,896 shares of the company’s stock worth $193,000 after purchasing an additional 9,136 shares in the last quarter. Institutional investors and hedge funds own 31.82% of the company’s stock.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals, Inc is a publicly traded integrated healthcare company specializing in the development, manufacturing and distribution of generic and specialty pharmaceutical products. The company’s portfolio includes oral solids, injectables, transdermals and biosimilars, serving a broad range of therapeutic areas such as cardiovascular, neuroscience, oncology and women’s health. Alongside its generic offerings, Amneal has built a branded portfolio through strategic acquisitions and internal development, positioning itself across both high-volume generics and higher-value specialty treatments.

Since its founding in 2002 by brothers Chirag and Chintu Modgil, Amneal has pursued growth through organic investment in research and development as well as targeted M&A.