Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Short Interest Down 16.3% in October

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 3,500,000 shares, a drop of 16.3% from the October 15th total of 4,180,000 shares. Based on an average daily volume of 1,190,000 shares, the short-interest ratio is presently 2.9 days. Approximately 2.9% of the company’s stock are sold short.

Analyst Ratings Changes

AMRX has been the subject of several recent analyst reports. Truist Financial boosted 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. 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 note on Monday, November 11th. JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price target on the stock in a report on Friday, September 6th. Barclays boosted their price objective on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. 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 research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Amneal Pharmaceuticals currently has an average rating of “Buy” and an average target price of $10.00.

Amneal Pharmaceuticals Stock Down 5.9 %

NASDAQ AMRX opened at $8.47 on Friday. The company has a 50-day moving average price of $8.58 and a 200-day moving average price of $7.65. Amneal Pharmaceuticals has a 52 week low of $4.16 and a 52 week high of $9.48. The firm has a market capitalization of $2.62 billion, a P/E ratio of -12.46 and a beta of 1.17.

Institutional Trading of Amneal Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Rothschild Investment LLC purchased a new position in shares of Amneal Pharmaceuticals during the 2nd quarter worth $26,000. Gladius Capital Management LP purchased a new position in Amneal Pharmaceuticals during the third quarter valued at $37,000. DekaBank Deutsche Girozentrale bought a new stake in Amneal Pharmaceuticals during the second quarter valued at about $42,000. nVerses Capital LLC purchased a new stake in Amneal Pharmaceuticals in the second quarter worth about $62,000. Finally, Atlanta Consulting Group Advisors LLC bought a new position in shares of Amneal Pharmaceuticals in the first quarter worth about $61,000. 31.82% of the stock is currently owned by institutional investors.

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.