Amneal Pharmaceuticals (NASDAQ:AMRX) Rating Increased to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals (NASDAQ:AMRX) from a neutral rating to an overweight rating in a report issued on Monday, MarketBeat Ratings reports. They currently have $12.00 target price on the stock, up from their prior target price of $9.00.

Several other equities research analysts also recently issued reports on AMRX. Piper Sandler lifted their price target on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Amneal Pharmaceuticals has a consensus rating of “Buy” and an average target price of $10.60.

Amneal Pharmaceuticals Stock Down 0.8 %

Shares of NASDAQ:AMRX opened at $8.43 on Monday. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -12.40 and a beta of 1.10. The company has a 50 day moving average of $8.07 and a two-hundred day moving average of $8.31. Amneal Pharmaceuticals has a 52-week low of $5.01 and a 52-week high of $9.48.

Insider Buying and Selling

In other Amneal Pharmaceuticals news, Director Gautam Patel sold 62,590 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $8.01, for a total transaction of $501,345.90. Following the completion of the transaction, the director now directly owns 1,968,886 shares of the company’s stock, valued at $15,770,776.86. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders sold 160,000 shares of company stock worth $1,292,000. Insiders own 17.46% of the company’s stock.

Institutional Investors Weigh In On Amneal Pharmaceuticals

A number of institutional investors have recently modified their holdings of AMRX. Gladius Capital Management LP bought a new stake in Amneal Pharmaceuticals in the third quarter valued at about $37,000. GF Fund Management CO. LTD. bought a new stake in shares of Amneal Pharmaceuticals in the 4th quarter valued at approximately $52,000. Quest Partners LLC acquired a new stake in shares of Amneal Pharmaceuticals during the 3rd quarter valued at approximately $84,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Amneal Pharmaceuticals during the fourth quarter worth $81,000. Finally, Straightline Group LLC bought a new stake in Amneal Pharmaceuticals during the fourth quarter valued at $92,000. Institutional investors and hedge funds own 31.82% of the company’s stock.

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.