Insider Selling: Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Sells 80,000 Shares of Stock

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel sold 80,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $8.90, for a total value of $712,000.00. Following the sale, the director now directly owns 1,808,886 shares of the company’s stock, valued at approximately $16,099,085.40. This represents a 4.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, February 3rd, Gautam Patel sold 80,000 shares of Amneal Pharmaceuticals stock. The stock was sold at an average price of $8.14, for a total transaction of $651,200.00.
• 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 transaction of $501,345.90.
• 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 transaction of $139,454.10.

Amneal Pharmaceuticals Price Performance

AMRX opened at $8.97 on Thursday. Amneal Pharmaceuticals, Inc. has a 1-year low of $5.18 and a 1-year high of $9.48. The stock has a market cap of $2.78 billion, a P/E ratio of -13.19 and a beta of 1.10. The stock’s 50 day simple moving average is $8.16 and its 200 day simple moving average is $8.34.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its earnings results on Friday, February 28th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.03). The firm had revenue of $730.52 million during the quarter, compared to analyst estimates of $708.21 million. Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. During the same period last year, the company posted $0.14 EPS. Research analysts expect that Amneal Pharmaceuticals, Inc. will post 0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in AMRX. Phocas Financial Corp. grew its position in shares of Amneal Pharmaceuticals by 31.1% in the fourth quarter. Phocas Financial Corp. now owns 1,330,413 shares of the company’s stock valued at $10,537,000 after purchasing an additional 315,223 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Amneal Pharmaceuticals in the 4th quarter valued at approximately $52,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Amneal Pharmaceuticals by 45.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 318,420 shares of the company’s stock valued at $2,522,000 after buying an additional 99,866 shares during the last quarter. Squarepoint Ops LLC increased its position in Amneal Pharmaceuticals by 540.5% during the fourth quarter. Squarepoint Ops LLC now owns 124,744 shares of the company’s stock worth $988,000 after buying an additional 105,268 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Amneal Pharmaceuticals by 97.9% in the fourth quarter. ProShare Advisors LLC now owns 59,493 shares of the company’s stock worth $471,000 after acquiring an additional 29,424 shares during the last quarter. 31.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMRX has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Monday, November 11th. StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Barclays increased their price objective on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their target price for the company from $9.00 to $12.00 in a report on Monday, February 24th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Amneal Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $10.80.

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.