Amneal Pharmaceuticals (NASDAQ:AMRX) Shares Up 6.9% – Here’s Why

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)’s stock price shot up 6.9% during mid-day trading on Wednesday . The company traded as high as $17.46 and last traded at $17.7980. Approximately 422,800 shares were traded during trading, a decline of 80% from the average daily volume of 2,086,597 shares. The stock had previously closed at $16.65.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMRX. The Goldman Sachs Group reissued a “buy” rating and issued a $21.00 price target on shares of Amneal Pharmaceuticals in a report on Friday, July 31st. Wall Street Zen raised shares of Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 12th. Leerink Partners initiated coverage on shares of Amneal Pharmaceuticals in a report on Wednesday, September 9th. They issued an “outperform” rating and a $23.00 target price on the stock. Weiss Ratings raised shares of Amneal Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 26th. Finally, Zacks Research cut shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.14.

Amneal Pharmaceuticals Stock Up 1.1%

The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of 37.31 and a beta of 1.24. The company has a quick ratio of 1.44, a current ratio of 2.20 and a debt-to-equity ratio of 77.65. The business has a 50-day moving average price of $17.80 and a 200-day moving average price of $15.14.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The business had revenue of $796.20 million during the quarter. Amneal Pharmaceuticals had a negative return on equity of 584.46% and a net margin of 5.05%.Amneal Pharmaceuticals has set its FY 2026 guidance at 0.960-1.060 EPS. As a group, equities analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Amneal Pharmaceuticals

In other news, Director John Kiely sold 50,000 shares of Amneal Pharmaceuticals stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $17.64, for a total value of $882,000.00. Following the transaction, the director directly owned 210,252 shares of the company’s stock, valued at $3,708,845.28. This trade represents a 19.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nikita Shah sold 146,403 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $17.51, for a total transaction of $2,563,516.53. Following the sale, the executive vice president owned 253,390 shares in the company, valued at $4,436,858.90. This represents a 36.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 413,016 shares of company stock valued at $7,216,567. 17.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several hedge funds have recently made changes to their positions in AMRX. Dimensional Fund Advisors LP boosted its position in Amneal Pharmaceuticals by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,690,586 shares of the company’s stock worth $70,723,000 after acquiring an additional 81,546 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Amneal Pharmaceuticals by 72.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,549,572 shares of the company’s stock valued at $32,405,000 after acquiring an additional 1,069,400 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at about $17,573,000. Penn Capital Management Company LLC acquired a new position in shares of Amneal Pharmaceuticals in the 4th quarter valued at about $12,655,000. Finally, Principal Financial Group Inc. lifted its position in shares of Amneal Pharmaceuticals by 527.9% in the first quarter. Principal Financial Group Inc. now owns 972,529 shares of the company’s stock worth $12,089,000 after purchasing an additional 817,652 shares in the last quarter. Hedge funds and other institutional investors own 31.82% of the company’s stock.

Amneal Pharmaceuticals Company Profile

Amneal Pharmaceuticals, Inc is a specialty pharmaceutical company that develops, manufactures and commercializes a broad portfolio of generic and specialty medicines. Its products include dosage forms such as tablets, capsules, injectables, ophthalmic products and inhalation therapies, with a focus on complex generics and other products that can be more difficult to develop or manufacture.

The company also markets branded specialty pharmaceuticals in areas including central nervous system disorders, endocrinology, metabolic disease and other therapeutic categories.