Short Interest in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Decreases By 6.8%

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) was the target of a significant decrease in short interest during 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 trading volume of 1,050,000 shares, the days-to-cover ratio is presently 3.1 days. Approximately 2.6% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com lowered Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. 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. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.00.

Insider Buying and Selling at Amneal Pharmaceuticals

In related news, SVP Jason B. Daly sold 43,657 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $8.61, for a total value of $375,886.77. Following the completion of the transaction, the senior vice president now directly owns 13,665 shares in the company, valued at approximately $117,655.65. This represents a 76.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gautam Patel sold 17,410 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.01, for a total value of $139,454.10. Following the completion of the transaction, the director now owns 2,031,476 shares of the company’s stock, valued at $16,272,122.76. The trade was a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 123,657 shares of company stock valued at $1,016,687 over the last quarter. 17.46% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the stock. Hussman Strategic Advisors Inc. increased its position in Amneal Pharmaceuticals by 20.0% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 252,000 shares of the company’s stock valued at $1,996,000 after acquiring an additional 42,000 shares during the period. Handelsbanken Fonder AB purchased a new stake in Amneal Pharmaceuticals in the 4th quarter valued at approximately $309,000. Convergence Investment Partners LLC boosted its holdings in Amneal Pharmaceuticals by 24.7% in the 4th quarter. Convergence Investment Partners LLC now owns 208,009 shares of the company’s stock valued at $1,647,000 after purchasing an additional 41,161 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in Amneal Pharmaceuticals by 24.1% in the 4th quarter. New York State Common Retirement Fund now owns 220,627 shares of the company’s stock valued at $1,747,000 after purchasing an additional 42,909 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Amneal Pharmaceuticals by 9.3% in the 4th quarter. Principal Financial Group Inc. now owns 96,835 shares of the company’s stock valued at $767,000 after purchasing an additional 8,213 shares in the last quarter. Institutional investors and hedge funds own 31.82% of the company’s stock.

Amneal Pharmaceuticals Price Performance

Shares of AMRX traded down $0.08 during midday trading on Monday, reaching $8.18. 389,863 shares of the stock were exchanged, compared to its average volume of 1,116,831. The business’s 50-day moving average price is $8.16 and its 200 day moving average price is $8.22. Amneal Pharmaceuticals has a twelve month low of $5.01 and a twelve month high of $9.48. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -12.02 and a beta of 1.10.

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.