Amneal Pharmaceuticals (NASDAQ:AMRX) Sets New 12-Month High – Still a Buy?

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) reached a new 52-week high during trading on Wednesday. The stock traded as high as $21.83 and last traded at $21.76, with a volume of 128,981 shares changing hands. The stock had previously closed at $21.38.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMRX. Weiss Ratings cut shares of Amneal Pharmaceuticals from a “buy (b)” rating to a “hold (c+)” rating in a report on Tuesday. JPMorgan Chase & Co. increased their target price on shares of Amneal Pharmaceuticals from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 4th. The Goldman Sachs Group restated a “buy” rating and set a $24.00 target price on shares of Amneal Pharmaceuticals in a research report on Thursday, October 29th. Barclays lifted their price target on Amneal Pharmaceuticals from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, September 17th. Finally, Piper Sandler restated an “overweight” rating and issued a $21.00 price target on shares of Amneal Pharmaceuticals in a research note on Wednesday, November 4th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Amneal Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $23.00.

Amneal Pharmaceuticals Price Performance

The stock has a market capitalization of $6.99 billion, a PE ratio of 52.07, a price-to-earnings-growth ratio of 2.42 and a beta of 1.24. The stock’s 50 day moving average is $19.49 and its two-hundred day moving average is $15.99. The company has a debt-to-equity ratio of 5.61, a quick ratio of 1.24 and a current ratio of 1.87.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. Amneal Pharmaceuticals had a return on equity of 283.50% and a net margin of 4.17%. The company had revenue of $862.68 million during the quarter. On average, equities analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.98 EPS for the current fiscal year.

Insider Activity

In other news, Director John Kiely sold 50,000 shares of Amneal Pharmaceuticals stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $17.64, for a total value of $882,000.00. Following the sale, the director directly owned 210,252 shares of the company’s stock, valued at $3,708,845.28. The trade was a 19.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 17.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMRX. Public Sector Pension Investment Board raised its position in shares of Amneal Pharmaceuticals by 73.4% in the third quarter. Public Sector Pension Investment Board now owns 1,026,235 shares of the company’s stock valued at $20,032,000 after buying an additional 434,400 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of Amneal Pharmaceuticals by 42.6% in the third quarter. Global Retirement Partners LLC now owns 25,815 shares of the company’s stock worth $520,000 after buying an additional 7,706 shares in the last quarter. HighTower Advisors LLC acquired a new position in Amneal Pharmaceuticals during the third quarter worth about $222,000. Paralel Advisors LLC boosted its position in Amneal Pharmaceuticals by 1.1% during the third quarter. Paralel Advisors LLC now owns 187,941 shares of the company’s stock worth $3,785,000 after acquiring an additional 2,110 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its stake in Amneal Pharmaceuticals by 16.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,880 shares of the company’s stock valued at $199,000 after acquiring an additional 1,427 shares in the last quarter. Hedge funds and other institutional investors own 31.82% of the company’s stock.

Amneal Pharmaceuticals Company Profile

Amneal Pharmaceuticals is a U.S.-based pharmaceutical company that develops, manufactures and markets generic and specialty medicines. Its products include a broad range of generic drugs, including complex formulations and injectable medicines, as well as branded therapies in areas such as neurology and endocrinology. The company also operates AvKARE, which distributes pharmaceuticals and medical products to government, institutional and commercial customers. Amneal serves customers in the United States and in international markets.