Convergence Investment Partners LLC Raises Holdings in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Convergence Investment Partners LLC lifted its holdings in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 24.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 208,009 shares of the company’s stock after acquiring an additional 41,161 shares during the period. Convergence Investment Partners LLC’s holdings in Amneal Pharmaceuticals were worth $1,647,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AMRX. Assenagon Asset Management S.A. grew its stake in shares of Amneal Pharmaceuticals by 114.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,204,994 shares of the company’s stock worth $10,026,000 after acquiring an additional 642,065 shares during the last quarter. Chartwell Investment Partners LLC lifted its holdings in shares of Amneal Pharmaceuticals by 21.3% during the third quarter. Chartwell Investment Partners LLC now owns 82,410 shares of the company’s stock worth $686,000 after purchasing an additional 14,477 shares during the period. Versor Investments LP lifted its holdings in shares of Amneal Pharmaceuticals by 191.3% during the third quarter. Versor Investments LP now owns 40,200 shares of the company’s stock worth $334,000 after purchasing an additional 26,400 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Amneal Pharmaceuticals during the third quarter worth about $213,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Amneal Pharmaceuticals by 58.7% during the third quarter. Victory Capital Management Inc. now owns 99,215 shares of the company’s stock worth $825,000 after purchasing an additional 36,700 shares during the period. Hedge funds and other institutional investors own 31.82% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gautam Patel sold 80,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $8.14, for a total transaction of $651,200.00. Following the transaction, the director now owns 1,888,886 shares in the company, valued at $15,375,532.04. This trade represents a 4.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 160,000 shares of company stock worth $1,292,000. Corporate insiders own 17.46% of the company’s stock.

Analysts Set New Price Targets

AMRX has been the subject of a number of research reports. Piper Sandler lifted 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 downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Amneal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Amneal Pharmaceuticals Stock Performance

Amneal Pharmaceuticals stock opened at $7.79 on Wednesday. Amneal Pharmaceuticals, Inc. has a 12 month low of $5.01 and a 12 month high of $9.48. The stock’s 50 day simple moving average is $8.05 and its two-hundred day simple moving average is $8.27.

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.