UBS Initiates Coverage of Amneal Pharmaceuticals (AMRX) With a Bullish Outlook

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) is one of the best drug stocks to buy according to analysts. On April 17, UBS initiated coverage of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) with a Buy rating and set a $19 price target. The firm told investors in a research note that the recent share selloff on the macro environment offers an attractive entry point for the company’s “best-in-group growth profile”, adding that it believes the stock’s valuation suggests the market is discounting only modest and gradual revenue growth. UBS further stated that it believes that Amneal Pharmaceuticals’ (NASDAQ:AMRX) specialty growth, driven by its Parkinson’s products and emerging franchises, warrants a premium multiple.

In a separate development, Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) announced on April 13 that it entered into a definitive agreement to acquire 100% of Kashiv BioSciences, LLC. The transaction has consideration that includes $375 million of cash and $375 million of equity payable at closing. It also includes up to $350 million in potential payments based on the attainment of certain regulatory milestones, the funding of operations through closing, and potential royalties based on commercial milestones.

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) is a medicine company that provides pharmaceuticals, with its product portfolio including generics, specialty, biosciences, and a product catalog. The company’s operations are divided into the following segments: Generics, Specialty, and AvKARE.

READ NEXT: 15 Stocks That Will Make You Rich in 10 Years AND 12 Best Stocks That Will Always Grow.

Disclosure: None. Follow Insider Monkey on Google News.