Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Short Interest Up 28.0% in November

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 4,480,000 shares, an increase of 28.0% from the October 31st total of 3,500,000 shares. Based on an average daily volume of 1,100,000 shares, the days-to-cover ratio is currently 4.1 days. Approximately 3.5% of the shares of the stock are sold short.

Insider Activity at Amneal Pharmaceuticals

In related news, SVP Jason B. Daly sold 43,657 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were 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 owns 13,665 shares of the company’s stock, valued at approximately $117,655.65. This represents a 76.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 26.56% of the company’s stock.

Institutional Investors Weigh In On Amneal Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. Profund Advisors LLC increased its position in shares of Amneal Pharmaceuticals by 8.1% during the second quarter. Profund Advisors LLC now owns 22,522 shares of the company’s stock worth $143,000 after acquiring an additional 1,680 shares during the period. Rothschild Investment LLC purchased a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at about $26,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Amneal Pharmaceuticals by 13.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,952 shares of the company’s stock worth $222,000 after buying an additional 4,115 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Amneal Pharmaceuticals by 4.9% during the third quarter. Franklin Resources Inc. now owns 89,887 shares of the company’s stock worth $778,000 after buying an additional 4,178 shares during the period. Finally, Gladius Capital Management LP purchased a new stake in shares of Amneal Pharmaceuticals during the third quarter worth approximately $37,000. 31.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price target for the company in a report on Friday, September 6th. Piper Sandler upped their price target on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Barclays raised their price objective on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. StockNews.com raised shares of Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Truist Financial lifted their price target on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Amneal Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $10.00.

Amneal Pharmaceuticals Stock Down 1.0 %

NASDAQ AMRX traded down $0.08 during trading on Friday, hitting $8.27. The stock had a trading volume of 741,130 shares, compared to its average volume of 1,389,855. The company has a market capitalization of $2.56 billion, a PE ratio of -12.16 and a beta of 1.17. The firm has a 50 day moving average price of $8.52 and a 200 day moving average price of $7.78. Amneal Pharmaceuticals has a twelve month low of $4.17 and a twelve month high of $9.48.

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.