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

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) gapped up prior to trading 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.

Analyst Upgrades and Downgrades

AMRX has been the topic of a number of recent analyst reports. Barclays boosted their target price on Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. The Goldman Sachs Group upped their price target on Amneal Pharmaceuticals from $5.50 to $6.25 and gave the stock a “buy” rating in a research report on Monday, March 4th. Piper Sandler increased 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 Thursday, March 21st. Finally, StockNews.com downgraded shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, March 4th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Amneal Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $7.31.

Amneal Pharmaceuticals Stock Up 12.8 %

The company has a market capitalization of $1.87 billion, a PE ratio of -19.42 and a beta of 1.33. The company has a quick ratio of 0.94, a current ratio of 1.63 and a debt-to-equity ratio of 121.31. The company’s 50 day moving average is $5.71 and its two-hundred day moving average is $5.17.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its earnings results on Friday, March 1st. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The company had revenue of $616.98 million for the quarter, compared to the consensus estimate 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, analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.5 earnings per share for the current year.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Gladius Capital Management LP bought a new stake in shares of Amneal Pharmaceuticals in the 3rd quarter valued at approximately $39,000. Trexquant Investment LP bought a new position in Amneal Pharmaceuticals during the fourth quarter valued at $65,000. Sherbrooke Park Advisers LLC bought a new position in Amneal Pharmaceuticals during the third quarter valued at $54,000. TCG Advisory Services LLC bought a new stake in shares of Amneal Pharmaceuticals in the 4th quarter worth about $91,000. Finally, Bellevue Group AG purchased a new position in shares of Amneal Pharmaceuticals during the 4th quarter worth about $155,000. 31.82% of the stock is owned by hedge funds and other 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.