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

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 3,540,000 shares, a drop of 24.2% from the November 30th total of 4,670,000 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average daily volume of 1,060,000 shares, the short-interest ratio is presently 3.3 days.

Amneal Pharmaceuticals Stock Down 0.4 %

AMRX opened at $7.82 on Friday. The company has a market cap of $2.42 billion, a PE ratio of -11.50 and a beta of 1.12. Amneal Pharmaceuticals has a twelve month low of $5.01 and a twelve month high of $9.48. The company has a 50-day moving average price of $8.34 and a 200 day moving average price of $7.97.

Insiders Place Their Bets

In other news, SVP Jason B. Daly sold 43,657 shares of the firm’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 sale, the senior vice president now owns 13,665 shares of the company’s stock, valued at $117,655.65. This trade represents a 76.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 26.56% of the stock is owned by insiders.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the company. Rubric Capital Management LP increased its position in shares of Amneal Pharmaceuticals by 12.4% during the second quarter. Rubric Capital Management LP now owns 10,721,778 shares of the company’s stock worth $68,083,000 after purchasing an additional 1,179,830 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Amneal Pharmaceuticals by 17.6% during the 2nd 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 grew its holdings in shares of 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 buying an additional 378,136 shares in the last quarter. State Street Corp raised its position in shares of 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 buying an additional 127,753 shares during the last quarter. Finally, Nantahala Capital Management LLC raised its position in shares of Amneal Pharmaceuticals by 1.9% in the second quarter. Nantahala Capital Management LLC now owns 2,669,943 shares of the company’s stock valued at $16,954,000 after buying an additional 50,000 shares during the last quarter. Institutional investors and hedge funds own 31.82% of the company’s stock.

Wall Street Analysts Forecast Growth

AMRX has been the topic of several analyst reports. JPMorgan Chase & Co. upgraded shares of 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. Truist Financial lifted their price target on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research note 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 raised their price objective on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Amneal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $10.00.

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.