Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel Sells 80,000 Shares

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel sold 80,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $8.14, for a total transaction of $651,200.00. Following the sale, the director now directly owns 1,888,886 shares of the company’s stock, valued at $15,375,532.04. This represents a 4.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Gautam Patel also recently made the following trade(s):

• On Wednesday, January 8th, Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals stock. The stock was sold at an average price of $8.01, for a total transaction of $501,345.90.
• On Thursday, January 2nd, Gautam Patel sold 17,410 shares of Amneal Pharmaceuticals stock. The shares were sold at an average price of $8.01, for a total transaction of $139,454.10.

Amneal Pharmaceuticals Price Performance

Shares of AMRX opened at $7.97 on Friday. The firm has a 50-day moving average of $8.15 and a 200-day moving average of $8.23. Amneal Pharmaceuticals, Inc. has a one year low of $5.01 and a one year high of $9.48. The company has a market cap of $2.47 billion, a PE ratio of -11.72 and a beta of 1.10.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMRX. StockNews.com downgraded shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. Piper Sandler raised their target price on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AMRX. JPMorgan Chase & Co. grew its position in shares of Amneal Pharmaceuticals by 149.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company’s stock valued at $10,792,000 after acquiring an additional 777,568 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Amneal Pharmaceuticals by 114.1% in 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. Geode Capital Management LLC grew its position in shares of Amneal Pharmaceuticals by 11.1% in the 3rd 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. Raymond James Financial Inc. acquired a new stake in shares of Amneal Pharmaceuticals during the 4th quarter worth about $2,946,000. Finally, Polar Asset Management Partners Inc. boosted its holdings in shares of Amneal Pharmaceuticals by 122.5% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 393,000 shares of the company’s stock worth $3,270,000 after buying an additional 216,400 shares during the period. Institutional investors 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.