Phocas Financial Corp. Sells 813,301 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Phocas Financial Corp. lowered its stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 80.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 201,889 shares of the company's stock after selling 813,301 shares during the quarter. Amneal Pharmaceuticals makes up approximately 1.2% of Phocas Financial Corp.'s investment portfolio, making the stock its 21st largest position. Phocas Financial Corp. owned approximately 0.07% of Amneal Pharmaceuticals worth $1,599,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Franklin Resources Inc. increased its position in shares of Amneal Pharmaceuticals by 4.9% in the third quarter. Franklin Resources Inc. now owns 89,887 shares of the company's stock valued at $778,000 after acquiring an additional 4,178 shares during the last quarter. Gladius Capital Management LP acquired a new stake in shares of Amneal Pharmaceuticals in the third quarter valued at about $37,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in Amneal Pharmaceuticals by 13.6% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 46,240 shares of the company's stock worth $366,000 after buying an additional 5,523 shares during the last quarter. Segall Bryant & Hamill LLC increased its position in Amneal Pharmaceuticals by 1.6% during the third quarter. Segall Bryant & Hamill LLC now owns 489,162 shares of the company's stock worth $4,070,000 after buying an additional 7,661 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Amneal Pharmaceuticals by 3.5% during the fourth quarter. Rhumbline Advisers now owns 232,264 shares of the company's stock worth $1,840,000 after buying an additional 7,875 shares during the last quarter. Institutional investors and hedge funds own 31.82% of the company's stock.

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Amneal Pharmaceuticals Stock Up 3.5 %

Shares of Amneal Pharmaceuticals stock traded up $0.29 on Friday, hitting $8.67. The stock had a trading volume of 2,898,126 shares, compared to its average volume of 1,319,121. Amneal Pharmaceuticals, Inc. has a twelve month low of $5.01 and a twelve month high of $9.48. The business's 50 day moving average is $8.10 and its two-hundred day moving average is $8.32. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -12.75 and a beta of 1.10.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last posted its earnings results on Friday, February 28th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.03). Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. The firm had revenue of $730.52 million during the quarter, compared to analyst estimates of $708.21 million. During the same period in the previous year, the company posted $0.14 EPS. As a group, equities analysts predict that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $9.00 to $12.00 in a research report on Monday, February 24th. StockNews.com downgraded Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Thursday, December 19th. 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. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $10.60.

Insider Activity

In other news, Director Gautam Patel sold 80,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $8.14, for a total value of $651,200.00. Following the transaction, the director now owns 1,888,886 shares of the company's stock, valued at approximately $15,375,532.04. This represents a 4.06 % 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. Over the last quarter, insiders have sold 160,000 shares of company stock valued at $1,292,000. 26.56% of the stock is owned by insiders.

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.