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

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel sold 80,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $8.14, for a total value of $651,200.00. Following the sale, the director now directly owns 1,888,886 shares of the company’s stock, valued at $15,375,532.04. This represents a 4.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 value of $139,454.10.

Amneal Pharmaceuticals Trading Down 0.1 %

Shares of Amneal Pharmaceuticals stock opened at $7.97 on Friday. The stock’s fifty day simple moving average is $8.15 and its 200 day simple moving average is $8.23. The company has a market capitalization of $2.47 billion, a PE ratio of -11.72 and a beta of 1.10. Amneal Pharmaceuticals, Inc. has a 12 month low of $5.01 and a 12 month high of $9.48.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew 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 valued at $10,792,000 after purchasing an additional 777,568 shares during the period. Assenagon Asset Management S.A. lifted its stake in Amneal Pharmaceuticals by 114.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,204,994 shares of the company’s stock valued at $10,026,000 after buying an additional 642,065 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Amneal Pharmaceuticals by 11.1% in the third 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 during the period. Raymond James Financial Inc. bought a new stake in shares of Amneal Pharmaceuticals during the fourth quarter worth $2,946,000. Finally, Polar Asset Management Partners Inc. increased its position in shares of Amneal Pharmaceuticals by 122.5% during the third quarter. Polar Asset Management Partners Inc. now owns 393,000 shares of the company’s stock worth $3,270,000 after acquiring an additional 216,400 shares in the last quarter. Institutional investors and hedge funds own 31.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMRX. Piper Sandler boosted their price objective 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 equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Amneal Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $10.00.

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.