Gautam Patel Sells 62,590 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Stock

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $8.01, for a total value of $501,345.90. Following the sale, the director now directly owns 1,968,886 shares in the company, valued at $15,770,776.86. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• 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 value of $139,454.10.

Amneal Pharmaceuticals Price Performance

Shares of NASDAQ:AMRX traded down $0.09 during midday trading on Friday, reaching $7.97. The company’s stock had a trading volume of 662,002 shares, compared to its average volume of 968,192. The business’s fifty day simple moving average is $8.23 and its 200-day simple moving average is $8.03. Amneal Pharmaceuticals, Inc. has a fifty-two week low of $5.01 and a fifty-two week high of $9.48. The company has a market capitalization of $2.47 billion, a P/E ratio of -11.72 and a beta of 1.10.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in shares of Amneal Pharmaceuticals by 20.7% during the second quarter. Bank of New York Mellon Corp now owns 751,403 shares of the company’s stock valued at $4,771,000 after purchasing an additional 128,772 shares during the last quarter. Rhumbline Advisers boosted its position in Amneal Pharmaceuticals by 14.9% in the 2nd quarter. Rhumbline Advisers now owns 233,217 shares of the company’s stock valued at $1,481,000 after buying an additional 30,286 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Amneal Pharmaceuticals by 701.8% in the 2nd quarter. Acadian Asset Management LLC now owns 811,853 shares of the company’s stock valued at $5,148,000 after buying an additional 710,598 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Amneal Pharmaceuticals in the 2nd quarter valued at $42,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Amneal Pharmaceuticals by 17.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company’s stock worth $27,205,000 after acquiring an additional 641,405 shares during the last quarter. Institutional investors and hedge funds own 31.82% of the company’s stock.

Analysts Set New Price Targets

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

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.