Short Interest in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Decreases By 6.8%

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) was the target of a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 3,300,000 shares, a decline of 6.8% from the December 31st total of 3,540,000 shares. Based on an average trading volume of 1,050,000 shares, the days-to-cover ratio is presently 3.1 days. Currently, 2.6% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMRX. Piper Sandler lifted their target price on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. StockNews.com cut Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. One investment 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.00.

Insiders Place Their Bets

In other news, SVP Jason B. Daly sold 43,657 shares of Amneal Pharmaceuticals stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $8.61, for a total value of $375,886.77. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals stock in a transaction that occurred on 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 transaction, the director now 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 disclosure for this sale can be found here. Insiders have sold a total of 123,657 shares of company stock valued at $1,016,687 in the last quarter. 17.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amneal Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of Amneal Pharmaceuticals by 149.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company’s stock worth $10,792,000 after acquiring an additional 777,568 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Amneal Pharmaceuticals by 114.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,204,994 shares of the company’s stock worth $10,026,000 after acquiring an additional 642,065 shares in the last quarter. Geode Capital Management LLC increased its position in Amneal Pharmaceuticals by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock valued at $31,511,000 after buying an additional 378,136 shares in the last quarter. Polar Asset Management Partners Inc. increased its position in Amneal Pharmaceuticals by 122.5% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 393,000 shares of the company’s stock valued at $3,270,000 after buying an additional 216,400 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Amneal Pharmaceuticals by 16.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,404,883 shares of the company’s stock valued at $11,689,000 after buying an additional 202,863 shares in the last quarter. 31.82% of the stock is owned by institutional investors.

Amneal Pharmaceuticals Stock Performance

NASDAQ AMRX traded down $0.08 on Monday, reaching $8.18. 389,863 shares of the stock traded hands, compared to its average volume of 1,116,831. The company has a fifty day moving average price of $8.16 and a 200-day moving average price of $8.22. The company has a market cap of $2.54 billion, a price-to-earnings ratio of -12.02 and a beta of 1.10. Amneal Pharmaceuticals has a 12 month low of $5.01 and a 12 month high of $9.48.

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.