Short Interest in Amneal Pharmaceuticals Inc (NYSE:AMRX) Decreases By 8.8%

Amneal Pharmaceuticals Inc (NYSE:AMRX) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 5,920,000 shares, a decline of 8.8% from the September 30th total of 6,490,000 shares. Based on an average daily volume of 1,700,000 shares, the days-to-cover ratio is currently 3.5 days. Currently, 6.1% of the shares of the stock are short sold.

AMRX opened at $2.83 on Tuesday. The company has a debt-to-equity ratio of 6.91, a current ratio of 2.25 and a quick ratio of 1.50. The stock has a market capitalization of $810.56 million, a price-to-earnings ratio of 2.98, a price-to-earnings-growth ratio of 2.64 and a beta of 1.48. The business has a 50-day moving average of $3.01 and a two-hundred day moving average of $4.95. Amneal Pharmaceuticals has a 12 month low of $2.27 and a 12 month high of $19.32.

Amneal Pharmaceuticals (NYSE:AMRX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.09). The business had revenue of $378.30 million during the quarter, compared to analysts’ expectations of $403.90 million. Amneal Pharmaceuticals had a negative net margin of 19.61% and a positive return on equity of 23.17%. The firm’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 EPS. Equities research analysts anticipate that Amneal Pharmaceuticals will post 0.26 earnings per share for the current year.

Several research analysts recently weighed in on the stock. Leerink Swann downgraded shares of Amneal Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. Guggenheim assumed coverage on shares of Amneal Pharmaceuticals in a research note on Thursday, September 12th. They issued a “sell” rating and a $2.50 target price for the company. BMO Capital Markets cut their target price on shares of Amneal Pharmaceuticals from $5.00 to $4.00 and set a “market perform” rating for the company in a research note on Monday, November 11th. ValuEngine raised shares of Amneal Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Raymond James cut their target price on shares of Amneal Pharmaceuticals from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $8.50.

In other news, Director Ted C. Nark bought 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was purchased at an average price of $2.39 per share, with a total value of $119,500.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 25.92% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of AMRX. Point72 Asset Management L.P. purchased a new stake in Amneal Pharmaceuticals in the 2nd quarter valued at about $23,772,000. BlackRock Inc. grew its holdings in shares of Amneal Pharmaceuticals by 9.4% during the 2nd quarter. BlackRock Inc. now owns 6,394,923 shares of the company’s stock worth $45,852,000 after purchasing an additional 549,217 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of Amneal Pharmaceuticals during the 2nd quarter worth about $2,505,000. Assenagon Asset Management S.A. purchased a new stake in shares of Amneal Pharmaceuticals during the 3rd quarter worth about $971,000. Finally, First Trust Advisors LP purchased a new stake in shares of Amneal Pharmaceuticals during the 3rd quarter worth about $842,000. Institutional investors own 36.42% of the company’s stock.

Amneal Pharmaceuticals Company Profile

Amneal Pharmaceuticals, Inc, together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic and specialty pharmaceutical products for various dosage forms and therapeutic areas. It operates through two segments, Generics and Specialty. The Generics segment develops, manufactures, and commercializes complex oral solids, injectables, ophthalmics, liquids, topicals, softgels, inhalation products, and transdermals across a range of therapeutic categories.

Further Reading: Understanding the two types of arbitrage

Receive News & Ratings for Amneal Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amneal Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.