Amneal Pharmaceuticals (NASDAQ:AMRX) Hits New 52-Week High – Time to Buy?

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) hit a new 52-week high on Wednesday . The company traded as high as $16.73 and last traded at $16.66, with a volume of 1825247 shares traded. The stock had previously closed at $16.11.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AMRX shares. Truist Financial upped their price target on shares of Amneal Pharmaceuticals from $15.00 to $17.00 and gave the company a “buy” rating in a report on Monday, March 2nd. UBS Group assumed coverage on Amneal Pharmaceuticals in a research note on Friday, April 17th. They issued a “buy” rating and a $19.00 price target for the company. Weiss Ratings cut shares of Amneal Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Wall Street Zen upgraded Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 21st. Finally, Zacks Research downgraded shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Amneal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $15.80.

Amneal Pharmaceuticals Trading Up 0.3%

The business has a 50-day moving average price of $13.73 and a two-hundred day moving average price of $13.37. The stock has a market capitalization of $5.53 billion, a P/E ratio of 45.58 and a beta of 1.30.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.27 EPS for the quarter. Amneal Pharmaceuticals had a negative return on equity of 313.96% and a net margin of 4.01%.The company had revenue of $722.52 million for the quarter. On average, sell-side analysts forecast that Amneal Pharmaceuticals, Inc. will post 0.92 earnings per share for the current fiscal year.

Insider Activity at Amneal Pharmaceuticals

In other news, Director Deborah M. Autor sold 34,819 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $12.94, for a total transaction of $450,557.86. Following the completion of the sale, the director owned 93,660 shares of the company’s stock, valued at approximately $1,211,960.40. This represents a 27.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 17.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new stake in Amneal Pharmaceuticals during the fourth quarter worth $26,000. Federated Hermes Inc. increased its stake in shares of Amneal Pharmaceuticals by 1,680.6% in 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 increased its stake in shares of Amneal Pharmaceuticals by 186.7% in 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 raised its holdings in shares of Amneal Pharmaceuticals by 66.6% during the 4th quarter. Spire Wealth Management now owns 2,558 shares of the company’s stock worth $32,000 after buying an additional 1,023 shares in the last quarter. Finally, Transamerica Financial Advisors LLC raised its holdings in shares of Amneal Pharmaceuticals by 541.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 2,914 shares of the company’s stock worth $37,000 after buying an additional 2,460 shares in 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.