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

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) was the recipient of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 3,300,000 shares, a decrease of 6.8% from the December 31st total of 3,540,000 shares. Based on an average daily trading volume, of 1,050,000 shares, the short-interest ratio is presently 3.1 days. Currently, 2.6% of the shares of the company are short sold.

Insider Buying and Selling at Amneal Pharmaceuticals

In related news, SVP Jason B. Daly sold 43,657 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $8.61, for a total value of $375,886.77. Following the transaction, the senior vice president now owns 13,665 shares in the company, valued at approximately $117,655.65. This represents a 76.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gautam Patel sold 62,590 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $8.01, for a total value of $501,345.90. Following the completion of the sale, the director now owns 1,968,886 shares of the company’s stock, valued at $15,770,776.86. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 123,657 shares of company stock worth $1,016,687 over the last 90 days. Company insiders own 26.56% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AMRX. Gladius Capital Management LP bought a new position in shares of Amneal Pharmaceuticals in the third quarter worth about $37,000. Quest Partners LLC acquired a new position in Amneal Pharmaceuticals during the 3rd quarter worth approximately $84,000. Xponance Inc. bought a new position in Amneal Pharmaceuticals in the 2nd quarter valued at approximately $65,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Amneal Pharmaceuticals in the fourth quarter valued at approximately $81,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Amneal Pharmaceuticals during the fourth quarter worth $121,000. 31.82% of the stock is owned by institutional investors.

Amneal Pharmaceuticals Trading Down 3.7 %

AMRX stock traded down $0.32 during mid-day trading on Friday, hitting $8.26. The stock had a trading volume of 1,244,650 shares, compared to its average volume of 1,010,281. The firm has a fifty day simple moving average of $8.16 and a 200 day simple moving average of $8.21. The firm has a market capitalization of $2.56 billion, a P/E ratio of -12.15 and a beta of 1.10. Amneal Pharmaceuticals has a 52 week low of $5.01 and a 52 week high of $9.48.

Analyst Ratings Changes

A number of research firms have issued reports on AMRX. Piper Sandler boosted their price objective on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company 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. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Amneal Pharmaceuticals has an average rating of “Moderate Buy” and a consensus 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.