Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. trimmed its position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 80.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 201,889 shares of the company’s stock after selling 813,301 shares during the quarter. Amneal Pharmaceuticals comprises 1.2% of Phocas Financial Corp.’s investment portfolio, making the stock its 21st biggest position. Phocas Financial Corp.’s holdings in Amneal Pharmaceuticals were worth $1,599,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Y Intercept Hong Kong Ltd boosted its position in shares of Amneal Pharmaceuticals by 55.3% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 58,111 shares of the company’s stock worth $460,000 after buying an additional 20,686 shares during the period. Hussman Strategic Advisors Inc. grew its stake in shares of Amneal Pharmaceuticals by 20.0% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 252,000 shares of the company’s stock worth $1,996,000 after acquiring an additional 42,000 shares in the last quarter. Handelsbanken Fonder AB purchased a new stake in shares of Amneal Pharmaceuticals during the fourth quarter worth $309,000. Convergence Investment Partners LLC raised its stake in shares of Amneal Pharmaceuticals by 24.7% in the fourth quarter. Convergence Investment Partners LLC now owns 208,009 shares of the company’s stock valued at $1,647,000 after acquiring an additional 41,161 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in Amneal Pharmaceuticals by 24.1% in the fourth 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 during the period. Hedge funds and other institutional investors own 31.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AMRX shares. StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. Piper Sandler lifted their price objective on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock 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 lifted their price target for the stock from $9.00 to $12.00 in a research note on Monday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $10.60.

Insider Activity at Amneal Pharmaceuticals

In other Amneal Pharmaceuticals news, Director Gautam Patel sold 17,410 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $8.01, for a total transaction of $139,454.10. Following the completion of the transaction, the director now directly owns 2,031,476 shares of the company’s stock, valued at approximately $16,272,122.76. This trade represents a 0.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 160,000 shares of company stock worth $1,292,000 in the last ninety days. 17.46% of the stock is owned by insiders.

Amneal Pharmaceuticals Stock Performance

Amneal Pharmaceuticals stock opened at $8.50 on Wednesday. The company has a market cap of $2.63 billion, a P/E ratio of -12.50 and a beta of 1.10. Amneal Pharmaceuticals, Inc. has a 1 year low of $5.01 and a 1 year high of $9.48. The firm’s 50-day moving average is $8.06 and its 200-day moving average is $8.31.

Amneal Pharmaceuticals 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.