Franklin Resources Inc. Boosts Position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Franklin Resources Inc. lifted its position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 4.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 89,887 shares of the company’s stock after purchasing an additional 4,178 shares during the period. Franklin Resources Inc.’s holdings in Amneal Pharmaceuticals were worth $778,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Rothschild Investment LLC purchased a new stake in shares of Amneal Pharmaceuticals in the 2nd quarter valued at about $26,000. Gladius Capital Management LP purchased a new position in Amneal Pharmaceuticals in the 3rd quarter worth approximately $37,000. DekaBank Deutsche Girozentrale bought a new position in shares of Amneal Pharmaceuticals in the 2nd quarter worth $42,000. nVerses Capital LLC purchased a new position in Amneal Pharmaceuticals in the second quarter worth $62,000. Finally, Xponance Inc. bought a new position in Amneal Pharmaceuticals in the second quarter valued at $65,000. 31.82% of the stock is currently owned by institutional investors.

Amneal Pharmaceuticals Stock Down 0.4 %

NASDAQ:AMRX opened at $7.82 on Monday. Amneal Pharmaceuticals, Inc. has a twelve month low of $5.01 and a twelve month high of $9.48. The stock has a market cap of $2.42 billion, a P/E ratio of -11.50 and a beta of 1.12. The firm’s fifty day simple moving average is $8.34 and its 200 day simple moving average is $7.98.

Analyst Upgrades and Downgrades

AMRX has been the subject of a number of research 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 shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Piper Sandler lifted their price target on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, StockNews.com lowered shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.00.

Insider Activity

In other Amneal Pharmaceuticals news, 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 completion of the sale, the senior vice president now directly owns 13,665 shares in the company, valued at $117,655.65. This trade represents a 76.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 26.56% of the company’s stock.

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.