Amneal Pharmaceuticals (NASDAQ:AMRX) Stock Price Up 4.5% – Here’s What Happened

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) traded up 4.5% on Tuesday . The company traded as high as $8.10 and last traded at $8.10. 374,343 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 1,378,676 shares. The stock had previously closed at $7.75.

Analyst Ratings Changes

A number of research firms have issued reports on AMRX. StockNews.com raised shares of Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 11th. Truist Financial boosted their price objective on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 target price on the stock in a research report on Friday, September 6th. Finally, Piper Sandler boosted their price target on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Amneal Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $10.00.

Amneal Pharmaceuticals Stock Performance

The stock has a market capitalization of $2.50 billion, a P/E ratio of -11.40 and a beta of 1.12. The business has a 50 day simple moving average of $8.48 and a 200-day simple moving average of $7.91.

Insider Buying and Selling

In other Amneal Pharmaceuticals news, SVP Jason B. Daly sold 43,657 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $8.61, for a total value of $375,886.77. Following the transaction, the senior vice president now owns 13,665 shares of the company’s stock, valued at approximately $117,655.65. This represents a 76.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 26.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Hennessy Advisors Inc. acquired a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at $8,818,000. Rubric Capital Management LP boosted its holdings in shares of Amneal Pharmaceuticals by 12.4% in the second quarter. Rubric Capital Management LP now owns 10,721,778 shares of the company’s stock worth $68,083,000 after buying an additional 1,179,830 shares during the period. Acadian Asset Management LLC increased its position in shares of Amneal Pharmaceuticals by 701.8% in the second quarter. Acadian Asset Management LLC now owns 811,853 shares of the company’s stock worth $5,148,000 after acquiring an additional 710,598 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Amneal Pharmaceuticals by 114.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,204,994 shares of the company’s stock worth $10,026,000 after acquiring an additional 642,065 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Amneal Pharmaceuticals by 17.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company’s stock valued at $27,205,000 after acquiring an additional 641,405 shares during the period. 31.82% of the stock is currently owned by institutional investors and hedge funds.

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.