Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Sees Significant Decrease in Short Interest

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) saw a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 3,540,000 shares, a decrease of 24.2% from the November 30th total of 4,670,000 shares. Based on an average daily volume of 1,060,000 shares, the short-interest ratio is currently 3.3 days. Approximately 2.8% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

AMRX has been the topic of several analyst reports. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 target price on the stock in a research note on Friday, September 6th. Piper Sandler upped 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 research note on Thursday, December 19th. Finally, Truist Financial increased their price target on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Insider Activity

In related news, SVP Jason B. Daly sold 43,657 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $8.61, for a total transaction of $375,886.77. Following the completion of the sale, the senior vice president now directly owns 13,665 shares in the company, valued at approximately $117,655.65. This trade represents a 76.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 26.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rothschild Investment LLC acquired a new position in shares of Amneal Pharmaceuticals during the second quarter worth $26,000. Gladius Capital Management LP acquired a new stake in Amneal Pharmaceuticals during the 3rd quarter worth approximately $37,000. DekaBank Deutsche Girozentrale bought a new stake in Amneal Pharmaceuticals during the 2nd quarter worth approximately $42,000. nVerses Capital LLC acquired a new position in shares of Amneal Pharmaceuticals during the second quarter worth $62,000. Finally, Quest Partners LLC acquired a new stake in Amneal Pharmaceuticals in the third quarter valued at $84,000. Institutional investors own 31.82% of the company’s stock.

Amneal Pharmaceuticals Price Performance

NASDAQ:AMRX traded down $0.03 during trading hours on Friday, hitting $7.82. The company’s stock had a trading volume of 933,555 shares, compared to its average volume of 1,369,695. The company has a market capitalization of $2.42 billion, a P/E ratio of -11.50 and a beta of 1.12. Amneal Pharmaceuticals has a twelve month low of $5.01 and a twelve month high of $9.48. The stock has a fifty day simple moving average of $8.34 and a 200-day simple moving average of $7.97.

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.