Short Interest in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Drops By 6.8%

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totalling 3,300,000 shares, a decline of 6.8% from the December 15th total of 3,540,000 shares. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is presently 3.1 days. Currently, 2.6% of the company’s stock are short sold.

Amneal Pharmaceuticals Stock Down 0.6 %

Amneal Pharmaceuticals stock traded down $0.05 during trading hours on Friday, reaching $8.26. 1,109,456 shares of the stock were exchanged, compared to its average volume of 879,925. Amneal Pharmaceuticals has a 52-week low of $5.01 and a 52-week high of $9.48. The firm’s 50 day moving average is $8.18 and its 200 day moving average is $8.11.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AMRX shares. Truist Financial raised their price target on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Piper Sandler lifted their target price on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Finally, StockNews.com cut shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Amneal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Insider Buying and Selling

In other Amneal Pharmaceuticals news, Director Gautam Patel sold 17,410 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.01, for a total transaction of $139,454.10. Following the sale, the director now owns 2,031,476 shares of the company’s stock, valued at approximately $16,272,122.76. This trade represents a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jason B. Daly sold 43,657 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $8.61, for a total transaction of $375,886.77. Following the completion of the transaction, the senior vice president now owns 13,665 shares of the company’s stock, valued at approximately $117,655.65. The trade was a 76.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,657 shares of company stock worth $1,016,687. Corporate insiders own 17.46% of the company’s stock.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Large investors have recently modified their holdings of the business. Rubric Capital Management LP grew its holdings in shares of Amneal Pharmaceuticals by 12.4% in the 2nd quarter. Rubric Capital Management LP now owns 10,721,778 shares of the company’s stock worth $68,083,000 after acquiring an additional 1,179,830 shares during the period. JPMorgan Chase & Co. increased its position in shares of Amneal Pharmaceuticals by 149.7% in the third quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company’s stock valued at $10,792,000 after buying an additional 777,568 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Amneal Pharmaceuticals by 114.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,204,994 shares of the company’s stock worth $10,026,000 after buying an additional 642,065 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Amneal Pharmaceuticals by 17.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company’s stock worth $27,205,000 after buying an additional 641,405 shares in the last quarter. Finally, BlackBarn Capital Partners LP grew its stake in Amneal Pharmaceuticals by 41.5% in the 2nd quarter. BlackBarn Capital Partners LP now owns 2,000,000 shares of the company’s stock valued at $12,700,000 after acquiring an additional 586,703 shares during the last quarter. 31.82% of the stock is owned by hedge funds and other institutional investors.

About Amneal Pharmaceuticals

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.