Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Sees Large Decrease in Short Interest

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) was the recipient of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 3,300,000 shares, a drop of 6.8% from the December 31st total of 3,540,000 shares. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is currently 3.1 days. Currently, 2.6% of the shares of the stock are sold short.

Insider Activity at Amneal Pharmaceuticals

In other news, SVP Jason B. Daly sold 43,657 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $8.61, for a total value of $375,886.77. Following the completion of the sale, the senior vice president now directly owns 13,665 shares in the company, valued at approximately $117,655.65. This trade represents a 76.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gautam Patel sold 17,410 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.01, for a total transaction of $139,454.10. Following the completion of the transaction, the director now directly owns 2,031,476 shares of the company’s stock, valued at approximately $16,272,122.76. This represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 123,657 shares of company stock valued at $1,016,687 in the last ninety days. Insiders own 26.56% of the company’s stock.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. raised its position in shares of Amneal Pharmaceuticals by 257.9% during the second quarter. Sei Investments Co. now owns 127,100 shares of the company’s stock worth $807,000 after purchasing an additional 91,584 shares during the period. Xponance Inc. acquired a new position in shares of Amneal Pharmaceuticals in the second quarter valued at approximately $65,000. Squarepoint Ops LLC bought a new stake in shares of Amneal Pharmaceuticals during the second quarter worth $707,000. The Manufacturers Life Insurance Company increased its position in shares of Amneal Pharmaceuticals by 32.0% during the second quarter. The Manufacturers Life Insurance Company now owns 94,195 shares of the company’s stock worth $598,000 after acquiring an additional 22,850 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Amneal Pharmaceuticals during the third quarter worth $531,000. Institutional investors own 31.82% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on AMRX. 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Amneal Pharmaceuticals Trading Down 3.7 %

Shares of NASDAQ:AMRX traded down $0.32 during midday trading on Friday, hitting $8.26. The company had a trading volume of 1,244,650 shares, compared to its average volume of 1,010,281. Amneal Pharmaceuticals has a 12 month low of $5.01 and a 12 month high of $9.48. The firm has a fifty day simple moving average of $8.16 and a 200 day simple moving average of $8.21. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -12.15 and a beta of 1.10.

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.