Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Sees Large Drop in Short Interest

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) was the recipient of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 2,420,000 shares, a decline of 18.0% from the January 15th total of 2,950,000 shares. Currently, 1.9% of the company’s shares are short sold. Based on an average daily volume of 1,200,000 shares, the days-to-cover ratio is currently 2.0 days.

Amneal Pharmaceuticals Price Performance

AMRX stock traded down $0.18 during midday trading on Friday, hitting $7.73. The stock had a trading volume of 484,881 shares, compared to its average volume of 1,200,624. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -11.37 and a beta of 1.10. The business has a 50-day moving average of $8.06 and a two-hundred day moving average of $8.26. Amneal Pharmaceuticals has a 52-week low of $5.01 and a 52-week high of $9.48.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com cut Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Piper Sandler boosted their target price 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 research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Insider Buying and Selling at Amneal Pharmaceuticals

In other news, Director Gautam Patel sold 17,410 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 2,031,476 shares of the company’s stock, valued at approximately $16,272,122.76. The trade was a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 160,000 shares of company stock worth $1,292,000. 26.56% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMRX. Gladius Capital Management LP bought a new stake in Amneal Pharmaceuticals in the third quarter worth $37,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Amneal Pharmaceuticals in the fourth quarter worth $81,000. Quest Partners LLC bought a new stake in Amneal Pharmaceuticals in the third quarter worth $84,000. Straightline Group LLC bought a new stake in Amneal Pharmaceuticals in the fourth quarter worth $92,000. Finally, Cibc World Markets Corp bought a new stake in Amneal Pharmaceuticals in the fourth quarter worth $118,000. 31.82% of the stock is owned by hedge funds and other institutional investors.

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.