Amneal Pharmaceuticals (NASDAQ:AMRX) Trading Up 4.5% – Here’s What Happened

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)’s share price was up 4.5% during trading on Tuesday . The stock traded as high as $8.10 and last traded at $8.10. Approximately 374,343 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 1,378,676 shares. The stock had previously closed at $7.75.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMRX. Piper Sandler upped their price target on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Truist Financial upped their target price on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. StockNews.com upgraded shares of Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price objective on the stock in a research note on Friday, September 6th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $10.00.

Amneal Pharmaceuticals Trading Up 4.3 %

The company has a fifty day moving average price of $8.48 and a 200-day moving average price of $7.91. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -11.40 and a beta of 1.12.

Insider Buying and Selling at Amneal Pharmaceuticals

In other news, SVP Jason B. Daly sold 43,657 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $8.61, for a total transaction of $375,886.77. Following the transaction, the senior vice president now owns 13,665 shares in the company, valued at approximately $117,655.65. This trade represents a 76.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 26.56% of the company’s stock.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Several hedge funds have recently bought and sold shares of AMRX. Rothschild Investment LLC acquired a new stake in shares of Amneal Pharmaceuticals in the second quarter worth about $26,000. Gladius Capital Management LP acquired a new stake in Amneal Pharmaceuticals in the 3rd quarter worth approximately $37,000. DekaBank Deutsche Girozentrale bought a new stake in Amneal Pharmaceuticals during the second quarter worth approximately $42,000. nVerses Capital LLC acquired a new position in Amneal Pharmaceuticals during the second quarter valued at approximately $62,000. Finally, Xponance Inc. bought a new position in shares of Amneal Pharmaceuticals in the second quarter valued at approximately $65,000. 31.82% of the stock is owned by institutional investors and hedge funds.

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.