Short Interest in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Decreases By 6.8%

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 3,300,000 shares, a decline of 6.8% from the December 15th total of 3,540,000 shares. Approximately 2.6% of the company’s shares are sold short. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is currently 3.1 days.

Insider Activity

In related news, Director Gautam Patel sold 17,410 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jason B. Daly sold 43,657 shares of the 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 transaction, the senior vice president now directly owns 13,665 shares in the company, valued at approximately $117,655.65. This represents a 76.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 123,657 shares of company stock valued at $1,016,687 over the last quarter. Company insiders own 17.46% of the company’s stock.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Gladius Capital Management LP bought a new stake in shares of Amneal Pharmaceuticals in the third quarter worth $37,000. DekaBank Deutsche Girozentrale acquired a new position in Amneal Pharmaceuticals during the 2nd quarter worth $42,000. Quest Partners LLC bought a new stake in shares of Amneal Pharmaceuticals in the 3rd quarter worth about $84,000. Xponance Inc. acquired a new stake in shares of Amneal Pharmaceuticals in the 2nd quarter valued at about $65,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Amneal Pharmaceuticals during the fourth quarter worth about $121,000. 31.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMRX has been the subject of several recent research reports. Truist Financial increased their price objective on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. Finally, Piper Sandler boosted their price target on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Amneal Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $10.00.

Amneal Pharmaceuticals Stock Performance

Shares of NASDAQ AMRX opened at $8.26 on Monday. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of -12.15 and a beta of 1.10. Amneal Pharmaceuticals has a 1 year low of $5.01 and a 1 year high of $9.48. The stock’s 50-day simple moving average is $8.18 and its 200-day simple moving average is $8.12.

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.