Amneal Pharmaceuticals (NASDAQ:AMRX) Shares Gap Up – Should You Buy?

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)’s share price gapped up prior to trading on Monday . The stock had previously closed at $7.83, but opened at $8.49. Amneal Pharmaceuticals shares last traded at $8.72, with a volume of 1,472,205 shares changing hands.

Analyst Ratings Changes

A number of research analysts have commented on the company. StockNews.com lowered Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $9.00 to $12.00 in a research report on Monday. Finally, Piper Sandler upped 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. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $10.60.

Amneal Pharmaceuticals Trading Up 2.4 %

The firm’s fifty day moving average price is $8.06 and its 200-day moving average price is $8.31. The company has a market cap of $2.63 billion, a price-to-earnings ratio of -12.50 and a beta of 1.10.

Insiders Place Their Bets

In other news, Director Gautam Patel sold 17,410 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.01, for a total transaction of $139,454.10. Following the completion of the sale, the director now owns 2,031,476 shares of the company’s stock, valued at $16,272,122.76. This represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 160,000 shares of company stock worth $1,292,000. Company insiders own 17.46% of the company’s stock.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Chartwell Investment Partners LLC lifted its holdings in shares of Amneal Pharmaceuticals by 21.3% in the third quarter. Chartwell Investment Partners LLC now owns 82,410 shares of the company’s stock valued at $686,000 after purchasing an additional 14,477 shares in the last quarter. Versor Investments LP raised its position in Amneal Pharmaceuticals by 191.3% in the 3rd quarter. Versor Investments LP now owns 40,200 shares of the company’s stock valued at $334,000 after buying an additional 26,400 shares during the last quarter. Aigen Investment Management LP bought a new stake in Amneal Pharmaceuticals in the 3rd quarter valued at approximately $213,000. Victory Capital Management Inc. boosted its position in Amneal Pharmaceuticals by 58.7% during the 3rd quarter. Victory Capital Management Inc. now owns 99,215 shares of the company’s stock worth $825,000 after acquiring an additional 36,700 shares during the last quarter. Finally, Gladius Capital Management LP acquired a new position in Amneal Pharmaceuticals during the 3rd quarter worth approximately $37,000. 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.