Amneal Pharmaceuticals (NASDAQ:AMRX) Shares Gap Up – Should You Buy?

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $7.83, but opened at $8.49. Amneal Pharmaceuticals shares last traded at $8.72, with a volume of 1,472,205 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AMRX shares. StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. Piper Sandler raised their price target on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $9.00 to $12.00 in a report on Monday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Amneal Pharmaceuticals has an average rating of “Buy” and an average target price of $10.60.

Amneal Pharmaceuticals Price Performance

The stock has a market capitalization of $2.65 billion, a PE ratio of -12.58 and a beta of 1.10. The firm’s 50 day simple moving average is $8.04 and its 200 day simple moving average is $8.30.

Insider Activity

In other news, Director Gautam Patel sold 62,590 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $8.01, for a total value of $501,345.90. Following the transaction, the director now owns 1,968,886 shares in the company, valued at approximately $15,770,776.86. This trade represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 160,000 shares of company stock valued at $1,292,000. 26.56% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amneal Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Gladius Capital Management LP purchased a new stake in shares of Amneal Pharmaceuticals during the third quarter worth about $37,000. GF Fund Management CO. LTD. bought a new position in Amneal Pharmaceuticals during the 4th quarter valued at approximately $52,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Amneal Pharmaceuticals in the 4th quarter worth approximately $81,000. Quest Partners LLC bought a new stake in shares of Amneal Pharmaceuticals in the 3rd quarter worth approximately $84,000. Finally, Straightline Group LLC purchased a new position in shares of Amneal Pharmaceuticals during the fourth quarter valued at approximately $92,000. Institutional investors own 31.82% of the company’s stock.

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.