Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Short Interest Down 7.7% in October

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 4,180,000 shares, a decline of 7.7% from the September 30th total of 4,530,000 shares. Approximately 3.5% of the company’s stock are short sold. Based on an average daily trading volume, of 1,230,000 shares, the short-interest ratio is presently 3.4 days.

Amneal Pharmaceuticals Trading Up 0.2 %

AMRX opened at $8.57 on Thursday. The business has a 50 day moving average of $8.53 and a 200-day moving average of $7.40. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -15.30 and a beta of 1.18. Amneal Pharmaceuticals has a 1-year low of $3.72 and a 1-year high of $8.95.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its quarterly earnings data on Friday, August 9th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. Amneal Pharmaceuticals had a positive return on equity of 1,235.03% and a negative net margin of 6.72%. The firm had revenue of $701.78 million during the quarter, compared to analyst estimates of $657.43 million. Equities analysts predict that Amneal Pharmaceuticals will post 0.52 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMRX. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price objective on the stock in a report on Friday, September 6th. Barclays lifted their price target on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Finally, Truist Financial upped their price objective on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Amneal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $9.40.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Amneal Pharmaceuticals by 0.6% in the first quarter. Vanguard Group Inc. now owns 13,728,233 shares of the company’s stock valued at $83,193,000 after acquiring an additional 85,846 shares during the last quarter. Hillsdale Investment Management Inc. raised its position in Amneal Pharmaceuticals by 19.7% in the 1st quarter. Hillsdale Investment Management Inc. now owns 699,719 shares of the company’s stock valued at $4,240,000 after purchasing an additional 115,100 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Amneal Pharmaceuticals by 20.7% in the second quarter. Bank of New York Mellon Corp now owns 751,403 shares of the company’s stock worth $4,771,000 after purchasing an additional 128,772 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Amneal Pharmaceuticals by 417.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 36,106 shares of the company’s stock worth $218,000 after purchasing an additional 29,133 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Amneal Pharmaceuticals by 701.8% in the second quarter. Acadian Asset Management LLC now owns 811,853 shares of the company’s stock valued at $5,148,000 after buying an additional 710,598 shares in the last quarter. 31.82% of the stock is currently owned by institutional investors and hedge funds.

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.