Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Sees Large Growth in Short Interest

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMRX. Truist Financial boosted 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. Barclays upped their target price on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price target on the stock in a research report on Friday, September 6th. StockNews.com raised Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, Piper Sandler raised their target price on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $10.00.

Insider Activity at Amneal Pharmaceuticals

In other news, SVP Jason B. Daly sold 43,657 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $8.61, for a total transaction of $375,886.77. Following the completion of the sale, the senior vice president now owns 13,665 shares in the company, valued at approximately $117,655.65. The trade was a 76.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 26.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Amneal Pharmaceuticals by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 13,728,233 shares of the company’s stock worth $83,193,000 after purchasing an additional 85,846 shares during the period. Rubric Capital Management LP grew its holdings in shares of Amneal Pharmaceuticals by 12.4% in the 2nd quarter. Rubric Capital Management LP now owns 10,721,778 shares of the company’s stock worth $68,083,000 after acquiring an additional 1,179,830 shares during the period. Dimensional Fund Advisors LP raised its holdings in Amneal Pharmaceuticals by 17.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company’s stock worth $27,205,000 after purchasing an additional 641,405 shares during the last quarter. Geode Capital Management LLC boosted its position in Amneal Pharmaceuticals by 11.1% during the third quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock worth $31,511,000 after purchasing an additional 378,136 shares in the last quarter. Finally, State Street Corp grew its holdings in Amneal Pharmaceuticals by 3.8% in the third quarter. State Street Corp now owns 3,514,721 shares of the company’s stock valued at $29,242,000 after purchasing an additional 127,753 shares during the last quarter. 31.82% of the stock is owned by institutional investors and hedge funds.

Amneal Pharmaceuticals Stock Down 1.0 %

AMRX traded down $0.08 on Friday, hitting $8.27. 741,130 shares of the company traded hands, compared to its average volume of 1,389,855. The company has a 50 day moving average of $8.52 and a 200-day moving average of $7.78. Amneal Pharmaceuticals has a 12-month low of $4.17 and a 12-month high of $9.48. The stock has a market capitalization of $2.56 billion, a PE ratio of -12.16 and a beta of 1.17.

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.