Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel Sells 80,000 Shares of Stock

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel sold 80,000 shares of Amneal Pharmaceuticals stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $8.90, for a total value of $712,000.00. Following the completion of the transaction, the director now owns 1,808,886 shares of the company’s stock, valued at approximately $16,099,085.40. This trade represents a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, February 3rd, Gautam Patel sold 80,000 shares of Amneal Pharmaceuticals stock. The shares were sold at an average price of $8.14, for a total value of $651,200.00.
• On Wednesday, January 8th, Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals stock. The stock was sold at an average price of $8.01, for a total value of $501,345.90.
• 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 transaction of $139,454.10.

Amneal Pharmaceuticals Trading Up 1.5 %

Shares of Amneal Pharmaceuticals stock opened at $8.97 on Thursday. The company has a fifty day simple moving average of $8.16 and a 200-day simple moving average of $8.34. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of -13.19 and a beta of 1.10. Amneal Pharmaceuticals, Inc. has a 12-month low of $5.18 and a 12-month high of $9.48.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its quarterly earnings data on Friday, February 28th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.03). Amneal Pharmaceuticals had a negative return on equity of 346.26% and a negative net margin of 6.88%. The firm had revenue of $730.52 million for the quarter, compared to analysts’ expectations of $708.21 million. During the same period in the previous year, the business posted $0.14 EPS. On average, analysts forecast that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Gladius Capital Management LP acquired a new stake in shares of Amneal Pharmaceuticals in the third quarter valued at approximately $37,000. GF Fund Management CO. LTD. acquired a new stake in Amneal Pharmaceuticals during the 4th quarter worth $52,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Amneal Pharmaceuticals during the 4th quarter worth $81,000. Quest Partners LLC acquired a new position in Amneal Pharmaceuticals in the third quarter valued at $84,000. Finally, Straightline Group LLC purchased a new stake in shares of Amneal Pharmaceuticals in the fourth quarter valued at about $92,000. Institutional investors and hedge funds own 31.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on AMRX shares. Barclays boosted their price target on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday. StockNews.com downgraded shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their price target for the company from $9.00 to $12.00 in a research note on Monday, February 24th. Finally, Piper Sandler upped their price objective on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $10.80.

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.