Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel Sells 80,000 Shares

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel sold 80,000 shares of Amneal Pharmaceuticals stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $8.14, for a total value of $651,200.00. Following the transaction, the director now directly owns 1,888,886 shares in the company, valued at $15,375,532.04. The trade was a 4.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Wednesday, January 8th, Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals stock. The stock was sold at an average price of $8.01, for a total value of $501,345.90.
• On Thursday, January 2nd, Gautam Patel sold 17,410 shares of Amneal Pharmaceuticals stock. The shares were sold at an average price of $8.01, for a total value of $139,454.10.

Amneal Pharmaceuticals Stock Down 0.1 %

NASDAQ:AMRX opened at $7.98 on Thursday. Amneal Pharmaceuticals, Inc. has a twelve month low of $5.01 and a twelve month high of $9.48. The company has a fifty day moving average of $8.15 and a 200-day moving average of $8.24. The firm has a market capitalization of $2.47 billion, a P/E ratio of -11.74 and a beta of 1.10.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in shares of Amneal Pharmaceuticals by 149.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company’s stock valued at $10,792,000 after buying an additional 777,568 shares during the period. Barclays PLC grew its stake in Amneal Pharmaceuticals by 134.1% in the third quarter. Barclays PLC now owns 296,384 shares of the company’s stock valued at $2,466,000 after acquiring an additional 169,756 shares during the period. State Street Corp increased its holdings in shares of Amneal Pharmaceuticals by 3.8% during the third quarter. State Street Corp now owns 3,514,721 shares of the company’s stock valued at $29,242,000 after acquiring an additional 127,753 shares in the last quarter. Geode Capital Management LLC raised its position 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 worth $31,511,000 after purchasing an additional 378,136 shares during the period. Finally, China Universal Asset Management Co. Ltd. bought a new position in shares of Amneal Pharmaceuticals in the 4th quarter worth $520,000. 31.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AMRX. Piper Sandler upped their price objective on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. StockNews.com cut shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.