Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) have been given a consensus rating of “Moderate Buy” by the five brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $10.00.

AMRX has been the subject of several research analyst reports. Piper Sandler lifted their price target on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. StockNews.com lowered Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th.

Insider Buying and Selling

In other news, Director Gautam Patel sold 17,410 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was 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 approximately $16,272,122.76. The trade was a 0.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jason B. Daly sold 43,657 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $8.61, for a total value of $375,886.77. Following the sale, the senior vice president now directly owns 13,665 shares in the company, valued at approximately $117,655.65. The trade was a 76.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 123,657 shares of company stock valued at $1,016,687 over the last 90 days. Corporate insiders own 17.46% of the company’s stock.

Institutional Trading of Amneal Pharmaceuticals

A number of institutional investors have recently made changes to their positions in AMRX. Sei Investments Co. boosted its position in Amneal Pharmaceuticals by 257.9% during the second quarter. Sei Investments Co. now owns 127,100 shares of the company’s stock worth $807,000 after purchasing an additional 91,584 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Amneal Pharmaceuticals during the 2nd quarter worth about $707,000. The Manufacturers Life Insurance Company lifted its holdings in Amneal Pharmaceuticals by 32.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 94,195 shares of the company’s stock worth $598,000 after buying an additional 22,850 shares in the last quarter. SG Americas Securities LLC acquired a new position in Amneal Pharmaceuticals during the 3rd quarter worth $531,000. Finally, Assenagon Asset Management S.A. increased its holdings in Amneal Pharmaceuticals by 114.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,204,994 shares of the company’s stock worth $10,026,000 after purchasing an additional 642,065 shares during the period. Institutional investors and hedge funds own 31.82% of the company’s stock.

Amneal Pharmaceuticals Trading Down 3.7 %

Shares of AMRX opened at $8.26 on Monday. Amneal Pharmaceuticals has a 1-year low of $5.01 and a 1-year high of $9.48. The company has a 50-day moving average of $8.16 and a 200 day moving average of $8.22.

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.