Amneal Pharmaceuticals (NASDAQ:AMRX) Trading Up 5.2% – Time to Buy?

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) shares rose 5.2% during mid-day trading on Thursday . The stock traded as high as $8.80 and last traded at $8.97. Approximately 392,226 shares traded hands during trading, a decline of 65% from the average daily volume of 1,125,023 shares. The stock had previously closed at $8.52.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler lifted their target price on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. StockNews.com lowered shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. Finally, Truist Financial boosted their price target on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Amneal Pharmaceuticals Price Performance

The stock has a 50 day simple moving average of $8.14 and a two-hundred day simple moving average of $8.15. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of -13.10 and a beta of 1.10.

Insiders Place Their Bets

In other Amneal Pharmaceuticals news, SVP Jason B. Daly sold 43,657 shares of Amneal Pharmaceuticals stock in a transaction on Friday, November 15th. The shares were sold at an average price of $8.61, for a total value of $375,886.77. Following the transaction, the senior vice president now directly owns 13,665 shares in the company, valued at approximately $117,655.65. The trade was a 76.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gautam Patel sold 62,590 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $8.01, for a total transaction of $501,345.90. Following the sale, the director now owns 1,968,886 shares of the company’s stock, valued at $15,770,776.86. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 123,657 shares of company stock valued at $1,016,687. 26.56% of the stock is owned by corporate insiders.

Institutional Trading of Amneal Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in AMRX. JPMorgan Chase & Co. lifted its stake in shares of Amneal Pharmaceuticals by 149.7% in the third quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company’s stock valued at $10,792,000 after purchasing an additional 777,568 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of 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 valued at $10,026,000 after acquiring an additional 642,065 shares during the period. Dimensional Fund Advisors LP grew its holdings 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 during the period. BlackBarn Capital Partners LP raised its holdings in Amneal Pharmaceuticals by 41.5% during the second quarter. BlackBarn Capital Partners LP now owns 2,000,000 shares of the company’s stock worth $12,700,000 after purchasing an additional 586,703 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Amneal Pharmaceuticals by 11.1% during 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 last quarter. 31.82% of the stock is owned by institutional investors and hedge funds.

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.