Short Interest in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Expands By 8.7%

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 4,640,000 shares, a growth of 8.7% from the August 31st total of 4,270,000 shares. Based on an average trading volume of 1,440,000 shares, the days-to-cover ratio is currently 3.2 days. Approximately 3.9% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMRX. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 target price for the company in a report on Friday, September 6th. Truist Financial boosted their price target on Amneal Pharmaceuticals from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Barclays boosted their price target on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Amneal Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $9.00.

Institutional Investors Weigh In On Amneal Pharmaceuticals

A number of large investors have recently bought and sold shares of AMRX. Rothschild Investment LLC purchased a new stake in Amneal Pharmaceuticals in the second quarter valued at approximately $26,000. DekaBank Deutsche Girozentrale acquired a new position in Amneal Pharmaceuticals in the second quarter valued at approximately $42,000. Atlanta Consulting Group Advisors LLC acquired a new position in Amneal Pharmaceuticals in the first quarter valued at approximately $61,000. nVerses Capital LLC acquired a new position in Amneal Pharmaceuticals in the second quarter valued at approximately $62,000. Finally, Trexquant Investment LP acquired a new position in Amneal Pharmaceuticals in the fourth quarter valued at approximately $65,000. Hedge funds and other institutional investors own 31.82% of the company’s stock.

Amneal Pharmaceuticals Price Performance

Shares of NASDAQ AMRX opened at $8.32 on Tuesday. The business’s 50 day moving average price is $8.06 and its 200 day moving average price is $7.01. The firm has a market cap of $2.57 billion, a P/E ratio of -14.86 and a beta of 1.18. Amneal Pharmaceuticals has a 52 week low of $3.36 and a 52 week high of $8.90. The company has a quick ratio of 0.82, a current ratio of 1.33 and a debt-to-equity ratio of 121.31.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its earnings results on Friday, August 9th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $701.78 million for the quarter, compared to analyst estimates of $657.43 million. Amneal Pharmaceuticals had a positive return on equity of 1,235.03% and a negative net margin of 6.72%. On average, sell-side analysts expect that Amneal Pharmaceuticals will post 0.52 earnings per share for the current year.

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.