Amneal Pharmaceuticals (NASDAQ:AMRX) Given New $8.00 Price Target at The Goldman Sachs Group

Amneal Pharmaceuticals (NASDAQ:AMRX) had its price target raised by The Goldman Sachs Group from $6.25 to $8.00 in a research note published on Monday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other equities analysts have also issued reports on the stock. Barclays lifted their price target 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. Truist Financial reaffirmed a buy rating and issued a $9.00 price target (up from $7.00) on shares of Amneal Pharmaceuticals in a report on Monday. Piper Sandler boosted their price objective 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, StockNews.com lowered shares of Amneal Pharmaceuticals from a strong-buy rating to a buy rating in a report on Monday, March 4th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Amneal Pharmaceuticals has a consensus rating of Buy and an average target price of $8.25.

Amneal Pharmaceuticals Stock Performance

Shares of AMRX stock opened at $6.59 on Monday. The company’s 50 day moving average is $5.79 and its 200 day moving average is $5.34. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 121.31. Amneal Pharmaceuticals has a 52-week low of $1.74 and a 52-week high of $6.90. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -11.77 and a beta of 1.33.

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

Institutional Investors Weigh In On Amneal Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Amneal Pharmaceuticals by 3.1% during the third quarter. Vanguard Group Inc. now owns 13,548,300 shares of the company’s stock valued at $57,174,000 after purchasing an additional 412,599 shares during the period. Rubric Capital Management LP lifted its position in Amneal Pharmaceuticals by 98.8% during the fourth 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 during the period. LSV Asset Management lifted its position in Amneal Pharmaceuticals by 10.5% during the third quarter. LSV Asset Management now owns 1,429,300 shares of the company’s stock valued at $6,032,000 after purchasing an additional 136,100 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Amneal Pharmaceuticals by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,329,508 shares of the company’s stock valued at $8,070,000 after purchasing an additional 26,875 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in Amneal Pharmaceuticals by 3.4% during the fourth quarter. Teacher Retirement System of Texas now owns 744,752 shares of the company’s stock valued at $4,521,000 after purchasing an additional 24,651 shares during the period. 31.82% of the stock is owned by hedge funds and other institutional investors.

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.