Amneal Pharmaceuticals Inc (NYSE: AMRX) stock jumped 3.66% on Friday to $4.53 against a previous-day closing price of $4.37. With 0.97 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.25 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $4.5500 whereas the lowest price it dropped to was $4.3800. The 52-week range on AMRX shows that it touched its highest point at $4.74 and its lowest point at $1.24 during that stretch. It currently has a 1-year price target of $6.12. With its current market cap of 698.48 million, AMRX has annualized dividend of $0.01 while the current yield stands at 0.33%. Beta for the stock currently stands at 1.27.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AMRX was up-trending over the past week, with a rise of 7.35%, but this was up by 28.33% over a month. Three-month performance surged to 18.90% while six-month performance rose 96.10%. The stock gained 103.14% in the past year, while it has gained 127.64% so far this year. A look at the trailing 12-month EPS for AMRX yields 0.06 with Next year EPS estimates of 0.58. For the next quarter, that number is 0.09. This implies an EPS growth rate of -13.24% for this year and -1.69% for next year.
Float and Shares Shorts:
At present, 151.49 million AMRX shares are outstanding with a float of 55.99 million shares on hand for trading. On Oct 30, 2023, short shares totaled 3.19 million, which was 2.07% higher than short shares on Sep 28, 2023. In addition to AMLX as the firm’s AMLX, AMRN serves as its Amarin Corporation plc.
Institutional Ownership:
Through their ownership of 64.77% of AMRX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 34.37% of AMRX, in contrast to 11.87% held by mutual funds. Shares owned by individuals account for 11.55%. As the largest shareholder in AMRX with 4.32% of the stake, The Vanguard Group, Inc. holds 13,246,251 shares worth 13,246,251. A second-largest stockholder of AMRX, BlackRock Fund Advisors, holds 7,214,576 shares, controlling over 2.35% of the firm’s shares. Rubric Capital Management LP is the third largest shareholder in AMRX, holding 4,024,500 shares or 1.31% stake. With a 1.33% stake in AMRX, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 4,061,878 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 1.16% of AMRX stock, is the second-largest Mutual Fund holder. It holds 3,566,356 shares valued at 13.8 million. iShares Russell 2000 ETF holds 0.92% of the stake in AMRX, owning 2,820,911 shares worth 10.92 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AMRX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With AMRX analysts setting a high price target of $7.00 and a low target of $5.50, the average target price over the next 12 months is $6.13. Based on these targets, AMRX could surge 54.53% to reach the target high and rise by 21.41% to reach the target low. Reaching the average price target will result in a growth of 35.32% from current levels.
Summary of Insider Activity:
Insiders traded AMRX stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 22 while that of sell transactions has risen to 12 over the past year. The total number of shares bought during that period was 1,170,138 while 4,053,721 shares were sold.
