Amneal Pharmaceuticals (NASDAQ:AMRX) Hits New 1-Year High – Here’s Why

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $16.61 and last traded at $16.1010, with a volume of 228484 shares traded. The stock had previously closed at $16.28.

Analysts Set New Price Targets

AMRX has been the subject of several research reports. Zacks Research cut shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. UBS Group initiated coverage on shares of Amneal Pharmaceuticals in a research note on Friday, April 17th. They issued a “buy” rating and a $19.00 target price for the company. Wall Street Zen cut shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 13th. Weiss Ratings cut shares of Amneal Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Finally, Truist Financial increased their target price on shares of Amneal Pharmaceuticals from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.80.

Amneal Pharmaceuticals Stock Performance

The firm’s 50-day moving average price is $13.26 and its two-hundred day moving average price is $13.18. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of 42.32 and a beta of 1.30.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter. Amneal Pharmaceuticals had a net margin of 4.01% and a negative return on equity of 313.96%. The business had revenue of $722.52 million for the quarter. As a group, equities research analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.92 EPS for the current year.

Insider Buying and Selling at Amneal Pharmaceuticals

In other news, Director Deborah M. Autor sold 34,819 shares of Amneal Pharmaceuticals stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $12.94, for a total transaction of $450,557.86. Following the sale, the director directly owned 93,660 shares in the company, valued at approximately $1,211,960.40. The trade was a 27.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 17.30% of the company’s stock.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in AMRX. Kemnay Advisory Services Inc. bought a new position in Amneal Pharmaceuticals during the 4th quarter valued at about $26,000. Federated Hermes Inc. lifted its holdings in Amneal Pharmaceuticals by 1,680.6% during the 4th quarter. Federated Hermes Inc. now owns 2,297 shares of the company’s stock valued at $29,000 after purchasing an additional 2,168 shares during the last quarter. Comerica Bank lifted its holdings in Amneal Pharmaceuticals by 186.7% during the 3rd quarter. Comerica Bank now owns 3,005 shares of the company’s stock valued at $30,000 after purchasing an additional 1,957 shares during the last quarter. Spire Wealth Management lifted its holdings in Amneal Pharmaceuticals by 66.6% during the 4th quarter. Spire Wealth Management now owns 2,558 shares of the company’s stock valued at $32,000 after purchasing an additional 1,023 shares during the last quarter. Finally, Transamerica Financial Advisors LLC lifted its holdings in Amneal Pharmaceuticals by 541.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 2,914 shares of the company’s stock valued at $37,000 after purchasing an additional 2,460 shares during the last quarter. 31.82% of the stock is owned by institutional investors.

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.