Magnetar Financial LLC Acquires New Holdings in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Magnetar Financial LLC acquired a new position in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 47,804 shares of the company's stock, valued at approximately $379,000.

Several other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in Amneal Pharmaceuticals by 11.1% in the third quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company's stock worth $31,511,000 after purchasing an additional 378,136 shares during the period. State Street Corp boosted its position in shares of Amneal Pharmaceuticals by 3.8% during the 3rd quarter. State Street Corp now owns 3,514,721 shares of the company's stock worth $29,242,000 after purchasing an additional 127,753 shares in the last quarter. Hennessy Advisors Inc. grew its stake in shares of Amneal Pharmaceuticals by 6.8% in the 4th quarter. Hennessy Advisors Inc. now owns 1,670,600 shares of the company's stock valued at $13,231,000 after buying an additional 106,600 shares during the period. Charles Schwab Investment Management Inc. increased its position in Amneal Pharmaceuticals by 9.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,539,934 shares of the company's stock valued at $12,196,000 after buying an additional 135,051 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Amneal Pharmaceuticals by 149.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company's stock worth $10,792,000 after buying an additional 777,568 shares during the period. Institutional investors own 31.82% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages have recently weighed in on AMRX. StockNews.com lowered Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $9.00 to $12.00 in a research note on Monday, February 24th. Finally, Barclays boosted their target price on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Monday, March 3rd. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $10.80.

Amneal Pharmaceuticals Stock Performance

NASDAQ:AMRX traded down $0.09 on Thursday, hitting $8.27. The stock had a trading volume of 1,153,105 shares, compared to its average volume of 1,346,821. Amneal Pharmaceuticals, Inc. has a 1 year low of $5.18 and a 1 year high of $9.48. The firm's fifty day simple moving average is $8.42 and its two-hundred day simple moving average is $8.37. The stock has a market cap of $2.56 billion, a P/E ratio of -12.16 and a beta of 1.05.

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

Insider Buying and Selling at Amneal Pharmaceuticals

In related news, Director Gautam Patel sold 80,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $8.90, for a total value of $712,000.00. Following the transaction, the director now owns 1,808,886 shares in the company, valued at approximately $16,099,085.40. This represents a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $8.35, for a total value of $41,750,000.00. Following the completion of the sale, the insider now directly owns 48,578,209 shares of the company's stock, valued at $405,628,045.15. This represents a 9.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,240,000 shares of company stock worth $43,754,000 over the last three months. 26.56% of the stock is currently owned by 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.