Gautam Patel Sells 17,410 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Stock

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel sold 17,410 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.01, for a total value of $139,454.10. Following the completion of the transaction, the director now directly owns 2,031,476 shares of the company’s stock, valued at $16,272,122.76. The trade was a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Amneal Pharmaceuticals Stock Performance

Shares of AMRX stock traded down $0.05 on Monday, hitting $7.77. The stock had a trading volume of 1,020,280 shares, compared to its average volume of 935,632. The stock’s 50 day moving average is $8.28 and its 200-day moving average is $8.02. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of -11.43 and a beta of 1.10. Amneal Pharmaceuticals, Inc. has a 52-week low of $5.01 and a 52-week high of $9.48.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AMRX. Truist Financial lifted their price target on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. StockNews.com cut Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. Finally, Piper Sandler boosted their target price on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Amneal Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $10.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AMRX. Gladius Capital Management LP bought a new stake in Amneal Pharmaceuticals during the third quarter valued at $37,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Amneal Pharmaceuticals in the 2nd quarter worth approximately $42,000. Xponance Inc. bought a new position in Amneal Pharmaceuticals during the 2nd quarter valued at $65,000. Quest Partners LLC acquired a new position in Amneal Pharmaceuticals during the third quarter worth about $84,000. Finally, Profund Advisors LLC grew its stake 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 worth $143,000 after purchasing an additional 1,680 shares during the last quarter. Hedge funds and other 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.