Amneal Pharmaceuticals (NASDAQ:AMRX) Cut to Buy at StockNews.com

Amneal Pharmaceuticals (NASDAQ:AMRX) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

AMRX has been the subject of a number of other reports. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price objective for the company in a report on Friday, September 6th. Truist Financial upped their price target on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Piper Sandler lifted their price objective 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 equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Amneal Pharmaceuticals Trading Up 0.4 %

Shares of NASDAQ AMRX opened at $7.78 on Thursday. The company has a fifty day moving average price of $8.42 and a 200 day moving average price of $7.93. The firm has a market cap of $2.41 billion, a PE ratio of -11.44 and a beta of 1.12. Amneal Pharmaceuticals has a 1-year low of $5.01 and a 1-year high of $9.48.

Insider Buying and Selling

In related news, SVP Jason B. Daly sold 43,657 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $8.61, for a total value of $375,886.77. Following the completion of the transaction, the senior vice president now directly owns 13,665 shares of the company’s stock, valued at approximately $117,655.65. This trade represents a 76.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Amneal Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rubric Capital Management LP grew its position in shares of Amneal Pharmaceuticals by 12.4% in the 2nd quarter. Rubric Capital Management LP now owns 10,721,778 shares of the company’s stock valued at $68,083,000 after acquiring an additional 1,179,830 shares during the period. Acadian Asset Management LLC lifted its stake in 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 purchasing an additional 710,598 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Amneal Pharmaceuticals by 114.1% during the third 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. Dimensional Fund Advisors LP increased its position in 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 buying an additional 641,405 shares during the last quarter. Finally, BlackBarn Capital Partners LP increased its position in Amneal Pharmaceuticals by 41.5% during the second quarter. BlackBarn Capital Partners LP now owns 2,000,000 shares of the company’s stock worth $12,700,000 after buying an additional 586,703 shares during the last quarter. 31.82% of the stock is owned by institutional investors.

Amneal Pharmaceuticals Company Profile

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.