Amneal Pharmaceuticals (NASDAQ:AMRX) Stock Price Up 3.6% – Should You Buy?

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)’s share price traded up 3.6% during trading on Monday . The stock traded as high as $8.33 and last traded at $8.58. 90,937 shares traded hands during trading, a decline of 93% from the average session volume of 1,366,759 shares. The stock had previously closed at $8.28.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $9.00 to $12.00 in a research report on Monday, February 24th. Barclays increased their price objective on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, March 3rd. Finally, StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Amneal Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $10.80.

Amneal Pharmaceuticals Stock Down 1.8 %

The company has a market capitalization of $2.55 billion, a PE ratio of -12.10 and a beta of 1.06. The company’s 50 day moving average is $8.41 and its two-hundred day moving average is $8.37.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its quarterly earnings results on Friday, February 28th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.03). The company had revenue of $730.52 million during the quarter, compared to analysts’ expectations of $708.21 million. Amneal Pharmaceuticals had a negative return on equity of 346.26% and a negative net margin of 6.88%. During the same quarter in the prior year, the business posted $0.14 EPS. Analysts forecast that Amneal Pharmaceuticals, Inc. will post 0.53 EPS for the current year.

Insider Buying and Selling at Amneal Pharmaceuticals

In related news, Director Gautam Patel sold 62,590 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $8.01, for a total value of $501,345.90. Following the transaction, the director now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $8.35, for a total transaction of $41,750,000.00. Following the completion of the transaction, the insider now owns 48,578,209 shares in the company, valued at $405,628,045.15. This represents a 9.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,240,000 shares of company stock worth $43,754,000 over the last quarter. Insiders own 17.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. bought a new stake in shares of Amneal Pharmaceuticals in the fourth quarter valued at about $52,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Amneal Pharmaceuticals during the fourth quarter valued at approximately $81,000. Straightline Group LLC purchased a new position in Amneal Pharmaceuticals during the fourth quarter valued at approximately $92,000. Brevan Howard Capital Management LP purchased a new stake in shares of Amneal Pharmaceuticals during the 4th quarter worth $107,000. Finally, Cibc World Markets Corp bought a new stake in shares of Amneal Pharmaceuticals in the 4th quarter valued at about $118,000. 31.82% of the stock is currently owned by hedge funds and other institutional investors.

About Amneal Pharmaceuticals

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.