Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Sells $501,345.90 in Stock

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel sold 62,590 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $8.01, for a total transaction of $501,345.90. Following the sale, the director now directly owns 1,968,886 shares of the company’s stock, valued at approximately $15,770,776.86. This trade represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 Stock Performance

AMRX stock traded down $0.09 during midday trading on Friday, hitting $7.97. 662,002 shares of the company’s stock were exchanged, compared to its average volume of 968,192. Amneal Pharmaceuticals, Inc. has a one year low of $5.01 and a one year high of $9.48. The company has a market cap of $2.47 billion, a PE ratio of -11.72 and a beta of 1.10. The stock’s fifty day moving average price is $8.23 and its 200-day moving average price is $8.03.

Analysts Set New Price Targets

Several research analysts have recently issued reports 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. Truist Financial raised their target price on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, Piper Sandler upped their price target on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Amneal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Several institutional investors have recently modified their holdings of the business. Rubric Capital Management LP raised its holdings in Amneal Pharmaceuticals by 12.4% during the 2nd quarter. Rubric Capital Management LP now owns 10,721,778 shares of the company’s stock worth $68,083,000 after buying an additional 1,179,830 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Amneal Pharmaceuticals by 17.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company’s stock worth $27,205,000 after acquiring an additional 641,405 shares in the last quarter. Geode Capital Management LLC lifted its position in Amneal Pharmaceuticals by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock valued at $31,511,000 after acquiring an additional 378,136 shares in the last quarter. State Street Corp lifted its position in Amneal Pharmaceuticals by 3.8% in the 3rd 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. Finally, Nantahala Capital Management LLC boosted its stake in Amneal Pharmaceuticals by 1.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 2,669,943 shares of the company’s stock worth $16,954,000 after purchasing an additional 50,000 shares during the period. Institutional investors own 31.82% of the company’s stock.

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.