Magnetar Financial LLC Acquires New Stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Magnetar Financial LLC acquired a new stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 47,804 shares of the company’s stock, valued at approximately $379,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in Amneal Pharmaceuticals by 4.9% in the 3rd quarter. Franklin Resources Inc. now owns 89,887 shares of the company’s stock valued at $778,000 after purchasing an additional 4,178 shares during the last quarter. Arizona State Retirement System raised its stake in Amneal Pharmaceuticals by 13.6% in the 4th quarter. Arizona State Retirement System now owns 40,401 shares of the company’s stock valued at $320,000 after purchasing an additional 4,851 shares during the last quarter. Globeflex Capital L P raised its stake in Amneal Pharmaceuticals by 3.8% in the 4th quarter. Globeflex Capital L P now owns 144,439 shares of the company’s stock valued at $1,144,000 after purchasing an additional 5,245 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Amneal Pharmaceuticals by 13.6% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 46,240 shares of the company’s stock valued at $366,000 after purchasing an additional 5,523 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Amneal Pharmaceuticals by 1.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 555,655 shares of the company’s stock valued at $4,401,000 after purchasing an additional 6,680 shares during the last quarter. 31.82% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Amneal Pharmaceuticals

In related news, Director Gautam Patel sold 80,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $15,375,532.04. This represents a 4.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $8.35, for a total value of $41,750,000.00. Following the transaction, the insider now directly owns 48,578,209 shares in the company, valued at approximately $405,628,045.15. The trade was a 9.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,240,000 shares of company stock worth $43,754,000. 26.56% of the stock is currently owned by company insiders.

Amneal Pharmaceuticals Trading Down 3.9 %

NASDAQ AMRX opened at $8.66 on Friday. The stock has a market cap of $2.68 billion, a PE ratio of -12.74 and a beta of 1.05. Amneal Pharmaceuticals, Inc. has a twelve month low of $5.18 and a twelve month high of $9.48. The stock has a fifty day simple moving average of $8.38 and a 200-day simple moving average of $8.37.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its quarterly earnings results on Friday, February 28th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). The business had revenue of $730.52 million for the quarter, compared to analysts’ expectations of $708.21 million. Amneal Pharmaceuticals had a negative return on equity of 346.26% and a negative net margin of 6.88%. During the same quarter in the prior year, the company posted $0.14 earnings per share. Research analysts predict that Amneal Pharmaceuticals, Inc. will post 0.53 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com cut Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and upped their target price for the company from $9.00 to $12.00 in a report on Monday, February 24th. Finally, Barclays upped their target price on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $10.80.

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.