Short Interest in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Increases By 28.0%

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) was the target of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 4,480,000 shares, an increase of 28.0% from the October 31st total of 3,500,000 shares. Approximately 3.5% of the shares of the company are short sold. Based on an average daily trading volume, of 1,100,000 shares, the days-to-cover ratio is currently 4.1 days.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays increased their target price on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. raised 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. 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. Truist Financial increased their price target on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com upgraded shares of Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Monday, November 11th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $10.00.

Insider Activity

In other news, SVP Jason B. Daly sold 43,657 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $117,655.65. The trade was a 76.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 26.56% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Profund Advisors LLC increased its holdings in shares of Amneal Pharmaceuticals by 8.1% in the 2nd quarter. Profund Advisors LLC now owns 22,522 shares of the company’s stock valued at $143,000 after acquiring an additional 1,680 shares during the period. Rothschild Investment LLC acquired a new position in Amneal Pharmaceuticals in the second quarter valued at $26,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Amneal Pharmaceuticals by 13.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,952 shares of the company’s stock valued at $222,000 after buying an additional 4,115 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Amneal Pharmaceuticals by 4.9% during the third quarter. Franklin Resources Inc. now owns 89,887 shares of the company’s stock worth $778,000 after purchasing an additional 4,178 shares during the last quarter. Finally, Gladius Capital Management LP acquired a new position in Amneal Pharmaceuticals during the third quarter worth $37,000. 31.82% of the stock is owned by hedge funds and other institutional investors.

Amneal Pharmaceuticals Stock Performance

Shares of AMRX opened at $8.27 on Monday. Amneal Pharmaceuticals has a 1 year low of $4.17 and a 1 year high of $9.48. The stock has a market capitalization of $2.56 billion, a PE ratio of -12.16 and a beta of 1.17. The stock has a 50-day simple moving average of $8.52 and a 200-day simple moving average of $7.79.

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.