Amneal Pharmaceuticals price target raised to $12 from $10 at Truist

Truist analyst Les Sulewski raised the firm’s price target on Amneal Pharmaceuticals to $12 from $10 and keeps a Buy rating on the shares. The firm has followed up with the company’s management post Metsera collaboration news to gain insight into the agreement and entrance into the GLP1 space as a supplier for U.S./E.U. markets and commercial leadership ex-U.S., the analyst tells investors in a research note. Despite Metsera’s early stage foray into next-gen GLP1s, the partnership solidifies Amneal as a commercial partner with scale, opening the door for additional GLP1 manufacturing contracts, the firm states, adding that its $200M investment in a new India facility will leverage Amneal’s complex manufacturing knowhow and boost its peptide footprint to drive additional partnerships.