Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel Sells 62,590 Shares

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report) Director Gautam Patel sold 62,590 shares of the business's 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 completion of the sale, the director now directly owns 1,968,886 shares in the company, valued at approximately $15,770,776.86. The trade was a 3.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Gautam Patel also recently made the following trade(s):

• On Thursday, January 2nd, Gautam Patel sold 17,410 shares of Amneal Pharmaceuticals stock. The shares were sold at an average price of $8.01, for a total value of $139,454.10.

Amneal Pharmaceuticals Trading Down 1.1 %

Shares of AMRX stock traded down $0.09 on Friday, reaching $7.97. 662,702 shares of the stock were exchanged, compared to its average volume of 999,884. The business's 50 day moving average price is $8.22 and its 200 day moving average price is $8.04. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of -11.72 and a beta of 1.10. Amneal Pharmaceuticals, Inc. has a twelve month low of $5.01 and a twelve month high of $9.48.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of AMRX. Gladius Capital Management LP acquired a new position in Amneal Pharmaceuticals in the third quarter valued at $37,000. DekaBank Deutsche Girozentrale acquired a new position in Amneal Pharmaceuticals in the second quarter valued at $42,000. Xponance Inc. acquired a new position in Amneal Pharmaceuticals in the second quarter valued at $65,000. Quest Partners LLC acquired a new position in Amneal Pharmaceuticals in the third quarter valued at $84,000. Finally, Profund Advisors LLC boosted its stake in Amneal Pharmaceuticals by 8.1% in the second quarter. Profund Advisors LLC now owns 22,522 shares of the company's stock valued at $143,000 after acquiring an additional 1,680 shares in the last quarter. Institutional investors and hedge funds own 31.82% of the company's stock.

Analyst Upgrades and Downgrades

AMRX has been the topic of a number of research analyst reports. Truist Financial boosted their target price on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, October 2nd. Piper Sandler boosted 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. Finally, StockNews.com downgraded shares of Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Amneal Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.00.

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.