Entropy Technologies LP Makes New Investment in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Entropy Technologies LP purchased a new position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 32,757 shares of the company’s stock, valued at approximately $259,000.

Several other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC raised 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 acquiring an additional 378,136 shares during the period. State Street Corp raised its position in Amneal Pharmaceuticals by 3.8% in the third quarter. State Street Corp now owns 3,514,721 shares of the company’s stock worth $29,242,000 after acquiring an additional 127,753 shares during the period. Hennessy Advisors Inc. raised its position in Amneal Pharmaceuticals by 6.8% in 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 during the period. Charles Schwab Investment Management Inc. raised its position in shares of Amneal Pharmaceuticals by 16.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,404,883 shares of the company’s stock valued at $11,689,000 after purchasing an additional 202,863 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Amneal Pharmaceuticals by 149.7% during 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 during the period. 31.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AMRX. StockNews.com downgraded shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. Piper Sandler raised their price objective on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.00.

Insider Activity at Amneal Pharmaceuticals

In related news, Director Gautam Patel sold 80,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $8.14, for a total transaction of $651,200.00. Following the completion of the transaction, the director now directly owns 1,888,886 shares of the company’s stock, valued at approximately $15,375,532.04. This trade represents a 4.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 160,000 shares of company stock valued at $1,292,000. Corporate insiders own 26.56% of the company’s stock.

Amneal Pharmaceuticals Stock Performance

AMRX opened at $7.91 on Friday. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -11.63 and a beta of 1.10. The company has a fifty day moving average of $8.09 and a 200 day moving average of $8.25. Amneal Pharmaceuticals, Inc. has a fifty-two week low of $5.01 and a fifty-two week high of $9.48.

Amneal Pharmaceuticals 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.