Amneal Pharmaceuticals (NASDAQ:AMRX) Shares Rise 3.6% - Is It a Good Time to Invest?

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) saw its share price increase by 3.6% during mid-day trading on Monday. The stock peaked at $8.33 but was last seen at $8.58. In total, approximately 90,937 shares changed hands during the trading session, marking a significant decline of 93% from the average daily volume of 1,366,759 shares. Previously, the stock had closed at $8.28.

Recent Analyst Ratings

Several research firms have given updates concerning Amneal Pharmaceuticals. Barclays recently raised its price target for AMRX from $10.00 to $11.00, providing it with an 'overweight' rating on March 3rd. Similarly, JPMorgan Chase & Co. upgraded their rating from 'neutral' to 'overweight' and increased their price target for the stock from $9.00 to $12.00 on February 24th. In a contrasting move, StockNews.com downgraded AMRX from a 'strong-buy' to a 'buy' rating on December 19th. Overall, six equity research analysts currently rate the stock as a buy. According to MarketBeat, the average rating is 'Buy' with an average price target of $10.80.

Performance of Amneal Pharmaceuticals

With a market capitalization of $2.60 billion, Amneal Pharmaceuticals has a price-to-earnings ratio of -12.35 and a beta of 1.05. The company's 50-day moving average is $8.42, while the 200-day average stands at $8.37. Recently, on February 28th, Amneal Pharmaceuticals reported earnings results showing $0.12 earnings per share for the quarter, falling short of the consensus estimate of $0.15 by $0.03. The company's net margin was negative at 6.88% and its return on equity was drastically low at -346.26%. Revenue for the quarter was recorded at $730.52 million, surpassing analyst estimates of $708.21 million. For the current fiscal year, analysts predict Amneal Pharmaceuticals will achieve an EPS of 0.53.

Insider Trading Activities

In recent insider activity, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of Amneal Pharmaceuticals on March 14th for an average price of $8.35, totaling approximately $41.75 million. Post-sale, Patel's holdings decreased to 48,578,209 shares, valued at around $405.63 million. This transaction represents a 9.33% reduction in their ownership. Additionally, Director Gautam Patel sold 80,000 shares on March 3rd, earning $712,000. Following this sale, Gautam Patel holds 1,808,886 shares, valued at approximately $16.09 million, which is a 4.24% decrease in ownership. In the last three months, insiders sold a total of 5,240,000 shares worth $43.75 million, with 26.56% of the shares owned by company insiders.

Hedge Fund Activities

Recent movements among hedge funds indicate varying interests in Amneal Pharmaceuticals. Intech Investment Management LLC acquired a new stake in the company worth about $307,000 during the third quarter. Charles Schwab Investment Management Inc. increased its stake by 16.9%, owning 1,404,883 shares valued at $11.69 million after purchasing an additional 202,863 shares. Quantbot Technologies LP grew its stake significantly by 274.8%, holding 111,181 shares worth $925,000 after buying another 81,519 shares. Similarly, FMR LLC lifted its holdings by 25.9%, now holding 203,510 shares valued at $1.69 million after additional purchases. Lastly, Walleye Capital LLC also took a new position valued at $1.1 million. In total, institutional investors and hedge funds now control 31.82% of Amneal Pharmaceuticals' stock.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals, Inc., along with its subsidiaries, is engaged in the development, manufacture, marketing, and distribution of a range of pharmaceutical products, including generics, injectables, biosimilars, and specialty branded items globally. The company operates in three segments: Generics, Specialty, and AvKARE. The Generics segment includes a variety of product forms such as immediate and extended-release oral solids, sterile injectables, and topical products.

Considering an Investment?

Before deciding to invest in Amneal Pharmaceuticals, it's important to evaluate comprehensive market insights. Market analysts continually track leading research firms' recommendations to identify promising stocks. At present, while Amneal Pharmaceuticals holds a 'Buy' rating among analysts, several top-rated professionals highlight alternative stocks that may offer a better investment opportunity.

Stocks, Investment, Pharmaceuticals