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

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

Amneal Pharmaceuticals Trading Down 0.1 %

Shares of NASDAQ:AMRX traded down $0.01 during trading on Wednesday, hitting $7.98. 1,264,123 shares of the stock were exchanged, compared to its average volume of 1,182,526. Amneal Pharmaceuticals has a 12-month low of $5.01 and a 12-month high of $9.48. The company has a fifty day moving average price of $8.15 and a two-hundred day moving average price of $8.24. The company has a market cap of $2.47 billion, a PE ratio of -11.67 and a beta of 1.10.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. StockNews.com lowered shares of Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Thursday, December 19th. Piper Sandler increased their target price on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an "overweight" rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.00.

Insider Activity

In related news, Director Gautam Patel sold 17,410 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly 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 legal filing with the SEC, which is accessible through this link. Also, SVP Jason B. Daly sold 43,657 shares of Amneal Pharmaceuticals stock in a transaction that occurred on Friday, November 15th. The stock was 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 directly owns 13,665 shares in the company, 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 90 days, insiders have sold 123,657 shares of company stock worth $1,016,687. Company insiders own 17.46% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in Amneal Pharmaceuticals by 149.7% in the third quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company's stock worth $10,792,000 after purchasing an additional 777,568 shares in the last quarter. Barclays PLC grew its position in Amneal Pharmaceuticals by 134.1% during the 3rd quarter. Barclays PLC now owns 296,384 shares of the company's stock worth $2,466,000 after acquiring an additional 169,756 shares during the last quarter. State Street Corp lifted its stake in shares of Amneal Pharmaceuticals by 3.8% in the 3rd quarter. State Street Corp now owns 3,514,721 shares of the company's stock valued at $29,242,000 after purchasing an additional 127,753 shares during the period. Geode Capital Management LLC increased its holdings in Amneal Pharmaceuticals by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company's stock worth $31,511,000 after purchasing an additional 378,136 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. purchased a new position in Amneal Pharmaceuticals in the fourth quarter valued at approximately $520,000. 31.82% of the stock is owned by institutional investors and hedge funds.

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.