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

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 3,500,000 shares, a drop of 16.3% from the October 15th total of 4,180,000 shares. Based on an average trading volume of 1,190,000 shares, the short-interest ratio is presently 2.9 days. Currently, 2.9% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of research firms have commented on AMRX. StockNews.com raised Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Monday. Barclays boosted their price target on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price objective on the stock in a research report on Friday, September 6th. Truist Financial boosted their price objective on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler raised their price objective on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Amneal Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $10.00.

Amneal Pharmaceuticals Price Performance

Shares of NASDAQ:AMRX traded down $0.44 during trading hours on Friday, hitting $8.56. 625,522 shares of the company’s stock traded hands, compared to its average volume of 1,404,853. The business has a fifty day moving average price of $8.58 and a 200-day moving average price of $7.63. The firm has a market capitalization of $2.65 billion, a P/E ratio of -12.63 and a beta of 1.17. Amneal Pharmaceuticals has a 1 year low of $4.16 and a 1 year high of $9.48.

Institutional Trading of Amneal Pharmaceuticals

A number of large investors have recently made changes to their positions in AMRX. Rothschild Investment LLC purchased a new stake in shares of Amneal Pharmaceuticals in the 2nd quarter worth $26,000. Gladius Capital Management LP bought a new stake in shares of Amneal Pharmaceuticals in the 3rd quarter valued at about $37,000. DekaBank Deutsche Girozentrale bought a new stake in Amneal Pharmaceuticals during the 2nd quarter valued at $42,000. nVerses Capital LLC purchased a new position in Amneal Pharmaceuticals in the second quarter valued at about $62,000. Finally, Atlanta Consulting Group Advisors LLC bought a new position in shares of Amneal Pharmaceuticals during the 1st quarter worth approximately $61,000. 31.82% of the stock is owned by hedge funds and other institutional investors.

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.