Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Short Interest Down 18.0% in January

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AMRX shares. Piper Sandler increased their price objective on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. StockNews.com cut Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Insider Buying and Selling

In related news, Director Gautam Patel sold 62,590 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $8.01, for a total value of $501,345.90. Following the sale, the director now owns 1,968,886 shares in the company, valued at $15,770,776.86. This represents a 3.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 160,000 shares of company stock worth $1,292,000 in the last ninety days. Corporate insiders own 26.56% of the company’s stock.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Large investors have recently made changes to their positions in the business. MetLife Investment Management LLC increased its stake in shares of Amneal Pharmaceuticals by 2.5% during the 4th quarter. MetLife Investment Management LLC now owns 94,639 shares of the company’s stock worth $750,000 after purchasing an additional 2,297 shares during the last quarter. Franklin Resources Inc. increased its position in Amneal Pharmaceuticals by 4.9% in the third quarter. Franklin Resources Inc. now owns 89,887 shares of the company’s stock worth $778,000 after buying an additional 4,178 shares during the last quarter. Gladius Capital Management LP bought a new stake in shares of Amneal Pharmaceuticals in the third quarter valued at $37,000. Arizona State Retirement System lifted its position in shares of Amneal Pharmaceuticals by 13.6% during the 4th quarter. Arizona State Retirement System now owns 40,401 shares of the company’s stock valued at $320,000 after buying an additional 4,851 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Amneal Pharmaceuticals by 2.5% during the 4th quarter. Alliancebernstein L.P. now owns 200,246 shares of the company’s stock worth $1,586,000 after acquiring an additional 4,927 shares during the period. 31.82% of the stock is owned by hedge funds and other institutional investors.

Amneal Pharmaceuticals Trading Down 2.3 %

Shares of AMRX opened at $7.73 on Friday. The stock has a 50 day moving average of $8.07 and a 200 day moving average of $8.25. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -11.37 and a beta of 1.10. Amneal Pharmaceuticals has a 12 month low of $5.01 and a 12 month high of $9.48.

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.