Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Short Interest Update

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 4,180,000 shares, a decline of 7.7% from the September 30th total of 4,530,000 shares. Approximately 3.5% of the shares of the company are sold short. Based on an average daily volume of 1,230,000 shares, the short-interest ratio is presently 3.4 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AMRX shares. Truist Financial lifted their target price on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, October 2nd. Barclays lifted their target price on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from an "underweight" rating to a "neutral" rating and set a $9.00 target price on the stock in a research note on Friday, September 6th. One investment 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 has a consensus rating of "Moderate Buy" and a consensus price target of $9.40.

Amneal Pharmaceuticals Stock Up 1.2 %

Amneal Pharmaceuticals stock traded up $0.10 during midday trading on Wednesday, reaching $8.65. The stock had a trading volume of 151,308 shares, compared to its average volume of 1,405,153. The firm's 50-day moving average price is $8.52 and its 200 day moving average price is $7.39. Amneal Pharmaceuticals has a 12 month low of $3.72 and a 12 month high of $8.95. The firm has a market capitalization of $2.67 billion, a PE ratio of -15.27 and a beta of 1.18.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. Amneal Pharmaceuticals had a positive return on equity of 1,235.03% and a negative net margin of 6.72%. The firm had revenue of $701.78 million for the quarter, compared to analysts' expectations of $657.43 million. Equities research analysts expect that Amneal Pharmaceuticals will post 0.52 EPS for the current year.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of AMRX. Assenagon Asset Management S.A. grew its holdings in shares of Amneal Pharmaceuticals by 114.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,204,994 shares of the company's stock worth $10,026,000 after purchasing an additional 642,065 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Amneal Pharmaceuticals during the third quarter worth about $531,000. Nantahala Capital Management LLC grew its holdings in shares of Amneal Pharmaceuticals by 1.9% during the second quarter. Nantahala Capital Management LLC now owns 2,669,943 shares of the company's stock worth $16,954,000 after purchasing an additional 50,000 shares in the last quarter. Algert Global LLC grew its holdings in shares of Amneal Pharmaceuticals by 11.5% during the second quarter. Algert Global LLC now owns 452,724 shares of the company's stock worth $2,875,000 after purchasing an additional 46,537 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Amneal Pharmaceuticals by 32.0% during the second quarter. The Manufacturers Life Insurance Company now owns 94,195 shares of the company's stock worth $598,000 after purchasing an additional 22,850 shares in the last quarter. 31.82% of the stock is currently owned by institutional investors.

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.