Amneal Pharmaceuticals (NASDAQ:AMRX) Stock Price Up 5.2% – What’s Next?

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) were up 5.2% during trading on Thursday . The stock traded as high as $8.80 and last traded at $8.97. Approximately 392,226 shares traded hands during trading, a decline of 65% from the average daily volume of 1,125,023 shares. The stock had previously closed at $8.52.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMRX. Piper Sandler lifted their target price on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Truist Financial lifted their price target on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com cut shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Amneal Pharmaceuticals Trading Up 4.8 %

The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of -13.10 and a beta of 1.10. The business has a 50-day moving average price of $8.14 and a two-hundred day moving average price of $8.15.

Insider Buying and Selling

In other news, SVP Jason B. Daly sold 43,657 shares of the firm’s 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 transaction, the senior vice president now directly owns 13,665 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gautam Patel sold 62,590 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $8.01, for a total transaction of $501,345.90. Following the completion of the sale, the director now directly owns 1,968,886 shares of the company’s stock, valued at $15,770,776.86. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 123,657 shares of company stock valued at $1,016,687 in the last quarter. Company insiders own 26.56% of the company’s stock.

Institutional Trading of Amneal Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in AMRX. Dimensional Fund Advisors LP lifted its position in Amneal Pharmaceuticals by 17.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company’s stock worth $27,205,000 after purchasing an additional 641,405 shares during the period. Renaissance Technologies LLC boosted its stake in Amneal Pharmaceuticals by 28.2% during the second quarter. Renaissance Technologies LLC now owns 682,700 shares of the company’s stock valued at $4,335,000 after buying an additional 149,970 shares in the last quarter. Sei Investments Co. raised its position in Amneal Pharmaceuticals by 257.9% in the second quarter. Sei Investments Co. now owns 127,100 shares of the company’s stock worth $807,000 after acquiring an additional 91,584 shares in the last quarter. Profund Advisors LLC lifted its stake in Amneal Pharmaceuticals by 8.1% during the second quarter. Profund Advisors LLC now owns 22,522 shares of the company’s stock valued at $143,000 after purchasing an additional 1,680 shares during the last quarter. Finally, Xponance Inc. bought a new stake in shares of Amneal Pharmaceuticals during the 2nd quarter worth $65,000. 31.82% of the stock is currently owned by institutional investors.

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.