Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Sees Significant Decline in Short Interest

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 3,300,000 shares, a decrease of 6.8% from the December 15th total of 3,540,000 shares. Approximately 2.6% of the company’s stock are short sold. Based on an average daily trading volume, of 1,050,000 shares, the short-interest ratio is presently 3.1 days.

Amneal Pharmaceuticals Price Performance

Shares of NASDAQ AMRX opened at $8.26 on Monday. The stock has a fifty day moving average price of $8.18 and a 200 day moving average price of $8.12. Amneal Pharmaceuticals has a 1-year low of $5.01 and a 1-year high of $9.48. The company has a market cap of $2.56 billion, a PE ratio of -12.15 and a beta of 1.10.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Piper Sandler boosted their target price on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Monday, November 11th. StockNews.com cut Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Finally, Truist Financial raised their target price on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Insider Activity at Amneal Pharmaceuticals

In other news, Director Gautam Patel sold 62,590 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $8.01, for a total value of $501,345.90. Following the completion of the transaction, the director now owns 1,968,886 shares in the company, valued at approximately $15,770,776.86. This represents a 3.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jason B. Daly sold 43,657 shares of Amneal Pharmaceuticals stock in a transaction on Friday, November 15th. The stock was sold at an average price of $8.61, for a total transaction of $375,886.77. Following the sale, the senior vice president now owns 13,665 shares in the company, valued at $117,655.65. This represents a 76.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 123,657 shares of company stock valued at $1,016,687 over the last 90 days. 17.46% of the stock is owned by corporate insiders.

Institutional Trading of Amneal Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in Amneal Pharmaceuticals by 149.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company’s stock valued at $10,792,000 after purchasing an additional 777,568 shares in the last quarter. Barclays PLC lifted its holdings in Amneal Pharmaceuticals by 134.1% in the third quarter. Barclays PLC now owns 296,384 shares of the company’s stock valued at $2,466,000 after acquiring an additional 169,756 shares during the period. State Street Corp boosted its position in shares of Amneal Pharmaceuticals by 3.8% during the 3rd quarter. State Street Corp now owns 3,514,721 shares of the company’s stock worth $29,242,000 after purchasing an additional 127,753 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Amneal Pharmaceuticals by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock worth $31,511,000 after purchasing an additional 378,136 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Amneal Pharmaceuticals by 4.9% in the 3rd quarter. Franklin Resources Inc. now owns 89,887 shares of the company’s stock valued at $778,000 after purchasing an additional 4,178 shares in the last quarter. Hedge funds and other institutional investors own 31.82% of the company’s stock.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals, Inc, together with its subsidiaries, develops, manufactures, markets, and distributes generics, injectables, biosimilars, and specialty branded pharmaceutical products worldwide. The company operates through three segments: Generics, Specialty, and AvKARE. The Generics segment offers immediate and extended release oral solid, powder, liquid, sterile injectable, nasal spray, inhalation and respiratory, biosimilar, ophthalmic, film, transdermal patch, and topical products.