Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Short Interest Down 16.3% in October

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 3,500,000 shares, a drop of 16.3% from the October 15th total of 4,180,000 shares. Based on an average daily trading volume, of 1,190,000 shares, the days-to-cover ratio is currently 2.9 days. Approximately 2.9% of the company’s stock are short sold.

Amneal Pharmaceuticals Stock Down 4.9 %

AMRX traded down $0.44 during trading on Friday, hitting $8.56. 625,522 shares of the company traded hands, compared to its average volume of 1,404,853. Amneal Pharmaceuticals has a one year low of $4.16 and a one year high of $9.48. The stock’s fifty day moving average is $8.58 and its 200 day moving average is $7.63. The firm has a market cap of $2.65 billion, a P/E ratio of -12.63 and a beta of 1.17.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AMRX shares. Truist Financial upped their target price on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. StockNews.com raised Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday. Piper Sandler upped their target price on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday. JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price target on the stock in a research report on Friday, September 6th. Finally, Barclays upped their price objective on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $10.00.

Institutional Trading of Amneal Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Amneal Pharmaceuticals by 0.6% during the first quarter. Vanguard Group Inc. now owns 13,728,233 shares of the company’s stock valued at $83,193,000 after purchasing an additional 85,846 shares during the period. Rubric Capital Management LP grew its stake in shares of Amneal Pharmaceuticals by 12.4% in the second quarter. Rubric Capital Management LP now owns 10,721,778 shares of the company’s stock worth $68,083,000 after acquiring an additional 1,179,830 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Amneal Pharmaceuticals by 17.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company’s stock worth $27,205,000 after acquiring an additional 641,405 shares during the last quarter. Nantahala Capital Management LLC boosted its holdings in shares of Amneal Pharmaceuticals by 1.9% during the 2nd quarter. Nantahala Capital Management LLC now owns 2,669,943 shares of the company’s stock valued at $16,954,000 after acquiring an additional 50,000 shares during the last quarter. Finally, BlackBarn Capital Partners LP grew its stake in shares of Amneal Pharmaceuticals by 41.5% in the second quarter. BlackBarn Capital Partners LP now owns 2,000,000 shares of the company’s stock worth $12,700,000 after acquiring an additional 586,703 shares during the period. 31.82% of the stock is 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.