Amneal Pharmaceuticals (NASDAQ:AMRX) Stock Price Up 4.5% – What’s Next?

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) traded up 4.5% during trading on Tuesday . The company traded as high as $8.10 and last traded at $8.10. 374,343 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 1,378,676 shares. The stock had previously closed at $7.75.

Analysts Set New Price Targets

AMRX has been the subject of several recent research reports. Truist Financial increased their price target on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price objective for the company in a research report on Friday, September 6th. StockNews.com upgraded shares of Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, Piper Sandler increased their price target on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amneal Pharmaceuticals has a consensus rating of “Buy” and an average price target of $10.00.

Amneal Pharmaceuticals Stock Up 0.8 %

The company has a market capitalization of $2.40 billion, a PE ratio of -11.40 and a beta of 1.12. The stock’s fifty day moving average price is $8.45 and its two-hundred day moving average price is $7.92.

Insider Buying and Selling

In other news, SVP Jason B. Daly sold 43,657 shares of Amneal Pharmaceuticals stock in a transaction on Friday, November 15th. The shares were sold at an average price of $8.61, for a total transaction of $375,886.77. Following the transaction, the senior vice president now owns 13,665 shares in the company, valued at $117,655.65. This trade represents a 76.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 26.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its position in shares of Amneal Pharmaceuticals by 3,279.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 228,917 shares of the company’s stock valued at $1,454,000 after purchasing an additional 222,144 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Amneal Pharmaceuticals by 20.7% in the second quarter. Bank of New York Mellon Corp now owns 751,403 shares of the company’s stock worth $4,771,000 after acquiring an additional 128,772 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Amneal Pharmaceuticals by 13.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,952 shares of the company’s stock worth $222,000 after purchasing an additional 4,115 shares in the last quarter. Rothschild Investment LLC purchased a new stake in Amneal Pharmaceuticals during the 2nd quarter valued at approximately $26,000. Finally, nVerses Capital LLC purchased a new position in shares of Amneal Pharmaceuticals in the second quarter worth $62,000. 31.82% of the stock is owned by 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.