JPMorgan Chase & Co. Purchases 777,568 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

JPMorgan Chase & Co. raised its stake in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 149.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,297,094 shares of the company's stock after purchasing an additional 777,568 shares during the period. JPMorgan Chase & Co. owned approximately 0.42% of Amneal Pharmaceuticals worth $10,792,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AMRX. Rubric Capital Management LP boosted its position in shares of Amneal Pharmaceuticals by 12.4% during the second quarter. Rubric Capital Management LP now owns 10,721,778 shares of the company's stock valued at $68,083,000 after buying an additional 1,179,830 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Amneal Pharmaceuticals by 114.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,204,994 shares of the company's stock worth $10,026,000 after acquiring an additional 642,065 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Amneal Pharmaceuticals by 17.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company's stock worth $27,205,000 after acquiring an additional 641,405 shares in the last quarter. BlackBarn Capital Partners LP grew its stake in shares of Amneal Pharmaceuticals by 41.5% in the 2nd quarter. BlackBarn Capital Partners LP now owns 2,000,000 shares of the company's stock worth $12,700,000 after acquiring an additional 586,703 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Amneal Pharmaceuticals by 11.1% in the third quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company's stock valued at $31,511,000 after purchasing an additional 378,136 shares during the last quarter. Institutional investors and hedge funds own 31.82% of the company's stock.

Amneal Pharmaceuticals Stock Performance

NASDAQ AMRX traded down $0.12 on Monday, hitting $7.85. 280,027 shares of the stock traded hands, compared to its average volume of 893,178. The business's fifty day moving average is $8.22 and its two-hundred day moving average is $8.06. Amneal Pharmaceuticals, Inc. has a 12 month low of $5.01 and a 12 month high of $9.48. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of -11.54 and a beta of 1.10.

Analysts Set New Price Targets

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

Insider Transactions at Amneal Pharmaceuticals

In other Amneal Pharmaceuticals news, SVP Jason B. Daly sold 43,657 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $8.61, for a total transaction of $375,886.77. Following the sale, the senior vice president now owns 13,665 shares in the company, valued at $117,655.65. This represents a 76.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals stock in a transaction 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 transaction, the director now owns 1,968,886 shares of the company's stock, valued at approximately $15,770,776.86. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,657 shares of company stock worth $1,016,687. 26.56% of the stock is owned by company insiders.

Amneal Pharmaceuticals 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.