Gautam Patel Sells 62,590 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Stock

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $8.01, for a total value of $501,345.90. Following the completion of the sale, the director now directly owns 1,968,886 shares of the company’s stock, valued at approximately $15,770,776.86. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Gautam Patel also recently made the following trade(s):

• On Thursday, January 2nd, Gautam Patel sold 17,410 shares of Amneal Pharmaceuticals stock. The stock was sold at an average price of $8.01, for a total value of $139,454.10.

Amneal Pharmaceuticals Stock Down 1.1 %

Shares of NASDAQ AMRX opened at $7.97 on Friday. Amneal Pharmaceuticals, Inc. has a 52 week low of $5.01 and a 52 week high of $9.48. The business has a 50-day simple moving average of $8.22 and a two-hundred day simple moving average of $8.05. The company has a market cap of $2.47 billion, a P/E ratio of -11.72 and a beta of 1.10.

Analysts Set New Price Targets

AMRX has been the subject of several recent research reports. Truist Financial lifted their price objective on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Piper Sandler lifted their price objective on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, StockNews.com lowered Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. One equities 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 currently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Gladius Capital Management LP bought a new stake in shares of Amneal Pharmaceuticals during the 3rd quarter valued at about $37,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Amneal Pharmaceuticals during the 2nd quarter valued at about $42,000. Xponance Inc. bought a new stake in shares of Amneal Pharmaceuticals during the 2nd quarter valued at about $65,000. Quest Partners LLC bought a new stake in shares of Amneal Pharmaceuticals during the 3rd quarter valued at about $84,000. Finally, Profund Advisors LLC boosted its position in shares of Amneal Pharmaceuticals by 8.1% during the 2nd quarter. Profund Advisors LLC now owns 22,522 shares of the company’s stock valued at $143,000 after acquiring an additional 1,680 shares during the last quarter. Institutional investors own 31.82% of the company’s stock.

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.