5 Best Medical Stocks Under $10

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

Number of Hedge Fund Holders: 15
Stock Price as of July 23rd: $4.83

Amneal Pharmaceuticals, Inc. (NYSE: AMRX) ranks 3rd on the list of 10 best medical stocks under $10. The New Jersey-based drugmaker sells generic medicines across the US. The pharmaceutical company was founded in 2002 and was formerly known as Atlas Holdings, Inc.

In April, Guggenheim analyst Dana Flanders maintained a Buy rating on Amneal Pharmaceuticals, Inc. (NYSE: AMRX) and increased the firm’s price target to $8 per share from $6.50 previously. The analyst commented that the recently launched generic medicine Ortho Evra and the demand of NuvaRing are the primary drivers in meeting the company’s fiscal year 2021 financial target.

Shares of Amneal Pharmaceuticals, Inc. (NYSE: AMRX) surged 8% pre-market on June 8th after the FDA agreed to evaluate the Biologics License Application (BLA) Bevacizumab for metastatic colorectal cancer therapy. Meanwhile, the stock has gained 12.1% in the last five days after the FDA approved the generic version of the ophthalmic product TobraDex.

The company has a market cap of $718 million. In the first quarter of 2021, Amneal Pharmaceuticals, Inc. (NYSE: AMRX) had an EPS of $0.20, beating estimates by $0.02. Due to lower influenza activity in the first quarter of 2021, the company’s revenue declined 1% to $493 million, down from $499 million in the first quarter of 2020. 

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.