Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Sees Large Decline in Short Interest

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report) was the target of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 2,420,000 shares, a decrease of 18.0% from the January 15th total of 2,950,000 shares. Based on an average daily volume of 1,200,000 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.9% of the shares of the stock are short sold.

Analyst Ratings Changes

Several brokerages recently issued reports on AMRX. StockNews.com downgraded 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 price target on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an "overweight" rating in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $10.00.

Amneal Pharmaceuticals Stock Up 0.6 %

Shares of AMRX stock traded up $0.05 during mid-day trading on Tuesday, reaching $7.78. The company's stock had a trading volume of 97,193 shares, compared to its average volume of 1,097,228. The company's 50 day simple moving average is $8.05 and its 200-day simple moving average is $8.27. Amneal Pharmaceuticals has a 12-month low of $5.01 and a 12-month high of $9.48. The firm has a market capitalization of $2.41 billion, a PE ratio of -11.43 and a beta of 1.10.

Insider Activity

In other news, Director Gautam Patel sold 62,590 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $8.01, for a total value of $501,345.90. Following the sale, the director now directly owns 1,968,886 shares in the company, valued at $15,770,776.86. This represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 160,000 shares of company stock worth $1,292,000 over the last ninety days. 26.56% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Gladius Capital Management LP purchased a new position in shares of Amneal Pharmaceuticals in the 3rd quarter valued at $37,000. Quest Partners LLC acquired a new stake in Amneal Pharmaceuticals during the 3rd quarter valued at $84,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Amneal Pharmaceuticals during the 4th quarter valued at $81,000. Straightline Group LLC acquired a new stake in Amneal Pharmaceuticals during the 4th quarter valued at $92,000. Finally, Brevan Howard Capital Management LP acquired a new stake in Amneal Pharmaceuticals during the 4th quarter valued at $107,000. Hedge funds and other 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.