5 Best Very Cheap Stocks to Buy Right Now

4. Amneal Pharmaceuticals, Inc. (NYSE: AMRX)

Number of Hedge Fund Holders: 15
Price as of June 25: $5.34

Amneal Pharmaceuticals, Inc. (NYSE: AMRX) ranks 4th on the list of 15 best very cheap stocks to buy right now. The New Jersey-based pharmaceutical company was established in 2002 and has since evolved into one of the most dynamic generic medicine manufacturers in the United States. The pharmaceutical company provides generic treatment medicines and products ranging from injectables and inhalants to pharmaceuticals for central nervous system diseases. The company also distributes medical and surgical products to governmental agencies. Amneal Pharmaceuticals, Inc. sells its medical products in the US and Puerto Rico. 

The company has a market cap of $886 million. Shares of AMRX increased 33% over the past twelve months. The company’s revenue in the first quarter of 2021 decreased 1% to $493 million, down from $499 million in the first quarter of 2020 due to lower influenza activity in the first quarter of 2021. The company posted a net income of $7 million or $0.04 diluted income per share. On March 3, Goldman Sachs upgraded Amneal Pharmaceuticals, Inc. to a Buy rating, with a price target of $6.5 per share. 

There were 15 hedge funds that reported owning stakes in Amneal Pharmaceuticals, Inc. (NYSE: AMRX) at the end of the first quarter, up from 8 funds a quarter earlier. The total value of these stakes at the end of Q1 is $77.5 million.