Amneal Pharmaceuticals (NASDAQ:AMRX) Shares Gap Up – What’s Next?

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)’s share price gapped up prior to trading 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 trading hands.

Wall Street Analyst Weigh In

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

Amneal Pharmaceuticals Price Performance

The firm has a market cap of $2.65 billion, a P/E ratio of -12.58 and a beta of 1.10. The company has a fifty day moving average of $8.04 and a 200-day moving average of $8.30.

Insiders Place Their Bets

In other news, Director Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $8.01, for a total transaction of $501,345.90. Following the sale, the director now directly owns 1,968,886 shares in the company, valued at $15,770,776.86. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 160,000 shares of company stock valued at $1,292,000 in the last three months. 26.56% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several large investors have recently modified their holdings of the stock. MetLife Investment Management LLC raised its stake in shares of Amneal Pharmaceuticals by 2.5% in the fourth quarter. MetLife Investment Management LLC now owns 94,639 shares of the company’s stock valued at $750,000 after buying an additional 2,297 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Amneal Pharmaceuticals by 3.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,460 shares of the company’s stock valued at $716,000 after buying an additional 2,911 shares in the last quarter. Franklin Resources Inc. grew its stake in Amneal Pharmaceuticals by 4.9% in the 3rd quarter. Franklin Resources Inc. now owns 89,887 shares of the company’s stock valued at $778,000 after buying an additional 4,178 shares in the last quarter. Gladius Capital Management LP bought a new stake in Amneal Pharmaceuticals during the 3rd quarter valued at $37,000. Finally, Arizona State Retirement System lifted its position in shares of Amneal Pharmaceuticals by 13.6% during the fourth quarter. Arizona State Retirement System now owns 40,401 shares of the company’s stock worth $320,000 after acquiring an additional 4,851 shares in the last quarter. Hedge funds and other 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.