Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Sees Significant Decrease in Short Interest

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totalling 4,180,000 shares, a drop of 7.7% from the September 30th total of 4,530,000 shares. Based on an average daily volume of 1,230,000 shares, the short-interest ratio is presently 3.4 days. Currently, 3.5% of the shares of the stock are sold short.

Amneal Pharmaceuticals Stock Up 0.2 %

AMRX stock opened at $8.57 on Thursday. Amneal Pharmaceuticals has a twelve month low of $3.72 and a twelve month high of $8.95. The company has a market cap of $2.65 billion, a P/E ratio of -15.30 and a beta of 1.18. The business’s fifty day moving average is $8.53 and its 200-day moving average is $7.40.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its earnings results on Friday, August 9th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. Amneal Pharmaceuticals had a positive return on equity of 1,235.03% and a negative net margin of 6.72%. The firm had revenue of $701.78 million for the quarter, compared to analyst estimates of $657.43 million. Research analysts anticipate that Amneal Pharmaceuticals will post 0.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Truist Financial upped their price objective on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price target on the stock in a research note on Friday, September 6th. Finally, Barclays lifted their price objective on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $9.40.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rothschild Investment LLC bought a new position in shares of Amneal Pharmaceuticals during the second quarter worth $26,000. DekaBank Deutsche Girozentrale acquired a new stake in Amneal Pharmaceuticals during the 2nd quarter worth $42,000. Atlanta Consulting Group Advisors LLC bought a new position in Amneal Pharmaceuticals during the first quarter worth about $61,000. nVerses Capital LLC acquired a new position in Amneal Pharmaceuticals in the second quarter valued at about $62,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Amneal Pharmaceuticals during the first quarter worth about $65,000. Institutional investors own 31.82% of the company’s stock.

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.