Insider Selling: Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Sells 62,590 Shares of Stock

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel sold 62,590 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was 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. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Gautam Patel also recently made the following trade(s):

• On Thursday, January 2nd, Gautam Patel sold 17,410 shares of Amneal Pharmaceuticals stock. The stock was sold at an average price of $8.01, for a total value of $139,454.10.

Amneal Pharmaceuticals Price Performance

Shares of Amneal Pharmaceuticals stock opened at $7.97 on Friday. The business’s 50 day simple moving average is $8.22 and its two-hundred day simple moving average is $8.05. The stock has a market capitalization of $2.47 billion, a P/E ratio of -11.72 and a beta of 1.10. Amneal Pharmaceuticals, Inc. has a one year low of $5.01 and a one year high of $9.48.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in Amneal Pharmaceuticals by 149.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company’s stock worth $10,792,000 after purchasing an additional 777,568 shares during the period. Franklin Resources Inc. increased its stake in shares of Amneal Pharmaceuticals by 4.9% during the third quarter. Franklin Resources Inc. now owns 89,887 shares of the company’s stock valued at $778,000 after buying an additional 4,178 shares during the period. Geode Capital Management LLC increased its stake in shares of Amneal Pharmaceuticals by 11.1% during the third quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock valued at $31,511,000 after buying an additional 378,136 shares during the period. Barclays PLC increased its stake in shares of Amneal Pharmaceuticals by 134.1% during the third quarter. Barclays PLC now owns 296,384 shares of the company’s stock valued at $2,466,000 after buying an additional 169,756 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Amneal Pharmaceuticals during the third quarter valued at approximately $311,000. 31.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMRX has been the subject of a number of recent research reports. Truist Financial boosted their target price on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Piper Sandler boosted their target price on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Amneal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

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.