Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Short Interest Up 38.4% in March

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 4,430,000 shares, a growth of 38.4% from the March 15th total of 3,200,000 shares. Based on an average trading volume of 1,650,000 shares, the short-interest ratio is presently 2.7 days. Approximately 3.2% of the company's stock are sold short.

Amneal Pharmaceuticals Trading Up 1.8 %

Shares of NASDAQ AMRX traded up $0.13 during midday trading on Wednesday, hitting $7.38. The company's stock had a trading volume of 128,226 shares, compared to its average volume of 1,406,357. The business's 50 day moving average is $8.08 and its two-hundred day moving average is $8.22. Amneal Pharmaceuticals has a 12-month low of $5.36 and a 12-month high of $9.48. The firm has a market cap of $2.29 billion, a P/E ratio of -10.85 and a beta of 1.06.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last released its quarterly earnings data on Friday, February 28th. The company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.03). Amneal Pharmaceuticals had a negative return on equity of 346.26% and a negative net margin of 6.88%. The business had revenue of $730.52 million during the quarter, compared to analysts' expectations of $708.21 million. During the same period last year, the company earned $0.14 earnings per share. On average, analysts predict that Amneal Pharmaceuticals will post 0.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AMRX has been the topic of several research reports. Barclays raised their target price on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $9.00 to $12.00 in a research report on Monday, February 24th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $10.80.

Insider Transactions at Amneal Pharmaceuticals

In other news, Director Gautam Patel sold 80,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $8.14, for a total transaction of $651,200.00. Following the completion of the transaction, the director now directly owns 1,888,886 shares in the company, valued at $15,375,532.04. This trade represents a 4.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of Amneal Pharmaceuticals stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $8.35, for a total transaction of $41,750,000.00. Following the completion of the transaction, the insider now directly owns 48,578,209 shares of the company's stock, valued at $405,628,045.15. This trade represents a 9.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,160,000 shares of company stock valued at $43,113,200. Corporate insiders own 17.45% of the company's stock.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in AMRX. Nantahala Capital Management LLC raised its stake in shares of Amneal Pharmaceuticals by 37.3% during the 4th quarter. Nantahala Capital Management LLC now owns 3,665,529 shares of the company's stock valued at $29,031,000 after buying an additional 995,586 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Amneal Pharmaceuticals by 149.7% during 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. BlackBarn Capital Partners LP grew its stake in Amneal Pharmaceuticals by 18.2% in the 4th quarter. BlackBarn Capital Partners LP now owns 2,850,000 shares of the company's stock valued at $22,572,000 after acquiring an additional 438,388 shares during the period. Mariner LLC increased its stake in shares of Amneal Pharmaceuticals by 3,749.1% during the fourth quarter. Mariner LLC now owns 424,291 shares of the company's stock worth $3,360,000 after purchasing an additional 413,268 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Amneal Pharmaceuticals by 218.8% during the 4th quarter. Bank of America Corp DE now owns 556,881 shares of the company's stock worth $4,410,000 after buying an additional 382,222 shares in the last quarter. 31.82% of the stock is currently 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.