Amneal Pharmaceuticals (NASDAQ:AMRX) Upgraded 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 morning, Marketbeat Ratings reports. They currently have $12.00 price objective on the stock, up from their prior price objective of $9.00.

AMRX has been the subject of several other research reports. StockNews.com cut Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. Piper Sandler increased their price target on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $10.60.

Amneal Pharmaceuticals Stock Down 0.8 %

Shares of NASDAQ:AMRX opened at $8.43 on Monday. The company has a 50-day moving average price of $8.07 and a 200 day moving average price of $8.31. Amneal Pharmaceuticals has a 52 week low of $5.01 and a 52 week high of $9.48. The company has a market cap of $2.61 billion, a P/E ratio of -12.40 and a beta of 1.10.

Insider Activity

In other Amneal Pharmaceuticals news, Director Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $8.01, for a total value of $501,345.90. Following the completion of the sale, the director now directly owns 1,968,886 shares of the company’s stock, valued at approximately $15,770,776.86. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 160,000 shares of company stock valued at $1,292,000 over the last 90 days. Insiders own 17.46% of the company’s stock.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in Amneal Pharmaceuticals by 149.7% during the third quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company’s stock worth $10,792,000 after buying an additional 777,568 shares during the period. Barclays PLC increased its stake in shares of Amneal Pharmaceuticals by 134.1% during the 3rd quarter. Barclays PLC now owns 296,384 shares of the company’s stock valued at $2,466,000 after acquiring an additional 169,756 shares during the last quarter. State Street Corp lifted its holdings in shares of Amneal Pharmaceuticals by 3.8% during the 3rd quarter. State Street Corp now owns 3,514,721 shares of the company’s stock worth $29,242,000 after acquiring an additional 127,753 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Amneal Pharmaceuticals in the fourth quarter worth approximately $520,000. Finally, Geode Capital Management LLC grew its holdings in Amneal Pharmaceuticals by 11.1% in the third quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock valued at $31,511,000 after purchasing an additional 378,136 shares during the period. 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.