Amneal Pharmaceuticals (NASDAQ:AMRX) Stock Price Up 5.2% – Here’s What Happened

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)’s stock price was up 5.2% on Thursday . The stock 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.

Wall Street Analyst Weigh In

AMRX has been the topic of several recent research reports. Piper Sandler increased their price target on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. StockNews.com lowered shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. Finally, Truist Financial increased their price objective on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.00.

Amneal Pharmaceuticals Price Performance

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

Insider Activity

In other Amneal Pharmaceuticals news, Director Gautam Patel sold 62,590 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $8.01, for a total transaction of $501,345.90. Following the transaction, the director now directly owns 1,968,886 shares in the company, valued at $15,770,776.86. This trade represents a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jason B. Daly sold 43,657 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 13,665 shares of the company’s stock, valued at $117,655.65. This trade represents a 76.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 123,657 shares of company stock worth $1,016,687 over the last quarter. Insiders own 26.56% of the company’s stock.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of large investors have recently bought and sold shares of AMRX. Gladius Capital Management LP acquired a new stake in shares of Amneal Pharmaceuticals during the 3rd quarter worth approximately $37,000. Quest Partners LLC acquired a new stake in shares of Amneal Pharmaceuticals in the third quarter valued at $84,000. Xponance Inc. purchased a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at about $65,000. Janney Montgomery Scott LLC acquired a new position in Amneal Pharmaceuticals during the 4th quarter worth approximately $121,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Amneal Pharmaceuticals during the third quarter worth $169,000. Institutional investors and hedge funds 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.