Insider Selling: Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Sells 17,410 Shares of Stock

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report) Director Gautam Patel sold 17,410 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.01, for a total value of $139,454.10. Following the sale, the director now directly owns 2,031,476 shares of the company's stock, valued at $16,272,122.76. This represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Amneal Pharmaceuticals Stock Down 0.6 %

Shares of AMRX traded down $0.05 on Monday, hitting $7.77. The company's stock had a trading volume of 1,020,517 shares, compared to its average volume of 950,072. The firm's fifty day moving average price is $8.28 and its 200-day moving average price is $8.02. Amneal Pharmaceuticals, Inc. has a fifty-two week low of $5.01 and a fifty-two week high of $9.48. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of -11.43 and a beta of 1.10.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of AMRX. Bank of New York Mellon Corp grew its position in shares of Amneal Pharmaceuticals by 20.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 751,403 shares of the company's stock valued at $4,771,000 after purchasing an additional 128,772 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Amneal Pharmaceuticals by 13.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,952 shares of the company's stock valued at $222,000 after purchasing an additional 4,115 shares during the period. Rhumbline Advisers grew its position in shares of Amneal Pharmaceuticals by 14.9% in the 2nd quarter. Rhumbline Advisers now owns 233,217 shares of the company's stock valued at $1,481,000 after purchasing an additional 30,286 shares during the period. Acadian Asset Management LLC grew its position in shares of Amneal Pharmaceuticals by 701.8% in the 2nd quarter. Acadian Asset Management LLC now owns 811,853 shares of the company's stock valued at $5,148,000 after purchasing an additional 710,598 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in Amneal Pharmaceuticals during the 2nd quarter worth approximately $42,000. 31.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Truist Financial boosted their price objective on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, October 2nd. StockNews.com cut Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Thursday, December 19th. Finally, Piper Sandler upped their price target on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an "overweight" rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $10.00.

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.