Amneal Pharmaceuticals (NASDAQ:AMRX) Shares Gap Up – Here’s What Happened

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $7.83, but opened at $8.49. Amneal Pharmaceuticals shares last traded at $8.72, with a volume of 1,472,205 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. StockNews.com cut Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their price target for the company from $9.00 to $12.00 in a research note on Monday. Finally, Piper Sandler upped their price objective on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $10.60.

Amneal Pharmaceuticals Stock Up 2.4 %

The business has a fifty day moving average price of $8.06 and a 200-day moving average price of $8.31. The company has a market cap of $2.63 billion, a P/E ratio of -12.50 and a beta of 1.10.

Insiders Place Their Bets

In other Amneal Pharmaceuticals news, Director Gautam Patel sold 17,410 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 2,031,476 shares in the company, valued at $16,272,122.76. This represents a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 160,000 shares of company stock worth $1,292,000 over the last ninety days. Corporate insiders own 17.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Chartwell Investment Partners LLC grew its holdings in Amneal Pharmaceuticals by 21.3% during the 3rd quarter. Chartwell Investment Partners LLC now owns 82,410 shares of the company’s stock worth $686,000 after acquiring an additional 14,477 shares during the last quarter. Versor Investments LP lifted its holdings in shares of Amneal Pharmaceuticals by 191.3% during the third quarter. Versor Investments LP now owns 40,200 shares of the company’s stock worth $334,000 after purchasing an additional 26,400 shares during the period. Aigen Investment Management LP bought a new stake in shares of Amneal Pharmaceuticals in the third quarter worth $213,000. Victory Capital Management Inc. grew its stake in shares of Amneal Pharmaceuticals by 58.7% in the third quarter. Victory Capital Management Inc. now owns 99,215 shares of the company’s stock worth $825,000 after purchasing an additional 36,700 shares during the last quarter. Finally, Gladius Capital Management LP acquired a new stake in Amneal Pharmaceuticals in the third quarter valued at $37,000. Institutional investors and hedge funds own 31.82% of the company’s stock.

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.