Insider Selling: Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) SVP Sells $375,886.77 in Stock

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) SVP Jason B. Daly sold 43,657 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $8.61, for a total value of $375,886.77. Following the completion of the transaction, the senior vice president now owns 13,665 shares of the company’s stock, 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 accessible through this link.

Amneal Pharmaceuticals Stock Performance

Shares of Amneal Pharmaceuticals stock opened at $8.32 on Friday. Amneal Pharmaceuticals, Inc. has a 52 week low of $4.16 and a 52 week high of $9.48. The stock has a 50 day moving average price of $8.57 and a two-hundred day moving average price of $7.71. The stock has a market capitalization of $2.58 billion, a PE ratio of -12.24 and a beta of 1.17.

Wall Street Analyst Weigh In

Several equities analysts have commented on AMRX shares. Barclays increased their target price on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Truist Financial raised their price objective on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 target price for the company in a research note on Friday, September 6th. Piper Sandler raised their target price on 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 raised Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amneal Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $10.00.

Institutional Investors Weigh In On Amneal Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake 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 valued at $31,511,000 after acquiring an additional 378,136 shares during the period. Barclays PLC grew its stake in Amneal Pharmaceuticals by 134.1% in the third quarter. Barclays PLC now owns 296,384 shares of the company’s stock valued at $2,466,000 after acquiring an additional 169,756 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Amneal Pharmaceuticals in the third quarter valued at approximately $311,000. Wellington Management Group LLP purchased a new position in shares of Amneal Pharmaceuticals during the third quarter valued at approximately $687,000. Finally, State Street Corp boosted its position in shares of Amneal Pharmaceuticals by 3.8% during the third quarter. State Street Corp now owns 3,514,721 shares of the company’s stock valued at $29,242,000 after buying an additional 127,753 shares during the last quarter. Institutional investors and hedge funds own 31.82% of the company’s stock.

About Amneal Pharmaceuticals

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.