Amneal Pharmaceuticals (NASDAQ:AMRX) Trading Up 5.2% – What’s Next?

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) rose 5.2% during mid-day trading on Thursday . The company traded as high as $8.80 and last traded at $8.97. Approximately 392,226 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 1,125,023 shares. The stock had previously closed at $8.52.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Piper Sandler lifted their target price on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. StockNews.com lowered Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. Finally, Truist Financial increased their target price on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Amneal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Amneal Pharmaceuticals Stock Down 1.5 %

The stock’s 50-day moving average is $8.14 and its 200-day moving average is $8.16. The firm has a market cap of $2.69 billion, a P/E ratio of -12.76 and a beta of 1.10.

Insider Buying and Selling at Amneal Pharmaceuticals

In related news, SVP Jason B. Daly sold 43,657 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $8.61, for a total value of $375,886.77. Following the sale, the senior vice president now directly owns 13,665 shares of the company’s stock, valued at approximately $117,655.65. The trade was a 76.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gautam Patel sold 17,410 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.01, for a total value of $139,454.10. Following the transaction, the director now directly owns 2,031,476 shares of the company’s stock, valued at approximately $16,272,122.76. This trade represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 123,657 shares of company stock valued at $1,016,687. 26.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of Amneal Pharmaceuticals by 17.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company’s stock worth $27,205,000 after buying an additional 641,405 shares during the last quarter. Geode Capital Management LLC increased its position in Amneal Pharmaceuticals by 11.1% in the third quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock worth $31,511,000 after buying an additional 378,136 shares during the last quarter. State Street Corp raised its stake in Amneal Pharmaceuticals by 3.8% in the 3rd quarter. State Street Corp now owns 3,514,721 shares of the company’s stock valued at $29,242,000 after acquiring an additional 127,753 shares during the period. Nantahala Capital Management LLC lifted its stake in shares of Amneal Pharmaceuticals by 1.9% during the 2nd quarter. Nantahala Capital Management LLC now owns 2,669,943 shares of the company’s stock valued at $16,954,000 after buying an additional 50,000 shares in the last quarter. Finally, Hennessy Advisors Inc. lifted its position in shares of Amneal Pharmaceuticals by 6.8% during the fourth quarter. Hennessy Advisors Inc. now owns 1,670,600 shares of the company’s stock worth $13,231,000 after acquiring an additional 106,600 shares in the last quarter. Institutional investors own 31.82% of the company’s stock.

Amneal Pharmaceuticals Company Profile

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.