Insider Selling: Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Sells $139,454.10 in Stock

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel sold 17,410 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.01, for a total transaction of $139,454.10. Following the transaction, the director now owns 2,031,476 shares in the company, valued at approximately $16,272,122.76. This trade represents a 0.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Amneal Pharmaceuticals Trading Up 2.4 %

Shares of NASDAQ:AMRX opened at $8.06 on Thursday. Amneal Pharmaceuticals, Inc. has a 12-month low of $5.01 and a 12-month high of $9.48. The business has a 50 day moving average of $8.24 and a two-hundred day moving average of $8.03. The company has a market capitalization of $2.50 billion, a PE ratio of -11.85 and a beta of 1.10.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AMRX shares. StockNews.com cut shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. Piper Sandler increased 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. Finally, Truist Financial lifted 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. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Amneal Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $10.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in Amneal Pharmaceuticals by 149.7% during the third quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company’s stock worth $10,792,000 after purchasing an additional 777,568 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Amneal Pharmaceuticals by 4.9% during the 3rd quarter. Franklin Resources Inc. now owns 89,887 shares of the company’s stock valued at $778,000 after buying an additional 4,178 shares in the last quarter. Geode Capital Management LLC grew its stake 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 during the period. Barclays PLC increased its holdings in Amneal Pharmaceuticals by 134.1% in the 3rd quarter. Barclays PLC now owns 296,384 shares of the company’s stock worth $2,466,000 after acquiring an additional 169,756 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Amneal Pharmaceuticals during the third quarter worth $311,000. Institutional investors and hedge funds 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.