Amneal Pharmaceuticals (NASDAQ:AMRX) Stock Rating Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of Amneal Pharmaceuticals (NASDAQ:AMRX) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Other equities analysts also recently issued reports about the company. Barclays upped their target price on Amneal Pharmaceuticals from $16.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, September 17th. Zacks Research raised Amneal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Monday, October 26th. Leerink Partners lifted their target price on Amneal Pharmaceuticals from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Thursday, November 5th. The Goldman Sachs Group reiterated a “buy” rating and issued a $24.00 target price on shares of Amneal Pharmaceuticals in a research report on Thursday, October 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of Amneal Pharmaceuticals from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, November 4th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Amneal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Amneal Pharmaceuticals Stock Performance

NASDAQ:AMRX traded down $0.32 during trading hours on Friday, hitting $21.38. 1,717,832 shares of the company were exchanged, compared to its average volume of 4,133,451. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 50.90, a PEG ratio of 2.47 and a beta of 1.24. Amneal Pharmaceuticals has a 52-week low of $11.39 and a 52-week high of $22.07. The company has a debt-to-equity ratio of 5.61, a current ratio of 1.87 and a quick ratio of 1.24. The company’s 50 day moving average price is $19.71 and its 200-day moving average price is $16.11.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $862.68 million for the quarter. Amneal Pharmaceuticals had a net margin of 4.17% and a return on equity of 283.50%. As a group, research analysts forecast that Amneal Pharmaceuticals will post 0.98 earnings per share for the current year.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC purchased a new position in shares of Amneal Pharmaceuticals during the 3rd quarter valued at about $2,366,000. First Trust Advisors LP lifted its holdings in shares of Amneal Pharmaceuticals by 55.6% in the 3rd quarter. First Trust Advisors LP now owns 955,599 shares of the company’s stock valued at $19,246,000 after buying an additional 341,393 shares during the period. Public Sector Pension Investment Board boosted its stake 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 worth $20,032,000 after buying an additional 434,400 shares during the last quarter. Global Retirement Partners LLC boosted 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 during the last quarter. Finally, HighTower Advisors LLC acquired a new stake in Amneal Pharmaceuticals during the third quarter worth about $222,000. 31.82% of the stock is owned by hedge funds and other institutional investors.

About Amneal Pharmaceuticals

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.