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

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMRX. Barclays boosted their target price on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. StockNews.com raised Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 11th. Piper Sandler upped their price target 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. Truist Financial increased 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. Finally, JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price objective on the stock in a research report on Friday, September 6th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $10.00.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of institutional investors have recently bought and sold shares of AMRX. BNP Paribas Financial Markets boosted its position in Amneal Pharmaceuticals by 62.2% during the 1st quarter. BNP Paribas Financial Markets now owns 99,192 shares of the company’s stock valued at $601,000 after acquiring an additional 38,031 shares in the last quarter. SG Americas Securities LLC grew its stake in Amneal Pharmaceuticals by 18.8% in the first quarter. SG Americas Securities LLC now owns 20,112 shares of the company’s stock worth $122,000 after purchasing an additional 3,177 shares during the period. Swiss National Bank raised its holdings in Amneal Pharmaceuticals by 13.8% in the first quarter. Swiss National Bank now owns 242,100 shares of the company’s stock worth $1,467,000 after purchasing an additional 29,400 shares in the last quarter. ProShare Advisors LLC lifted its position in Amneal Pharmaceuticals by 8.6% during the first quarter. ProShare Advisors LLC now owns 21,902 shares of the company’s stock valued at $133,000 after buying an additional 1,726 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Amneal Pharmaceuticals by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 13,728,233 shares of the company’s stock valued at $83,193,000 after buying an additional 85,846 shares in the last quarter. 31.82% of the stock is owned by institutional investors.

Amneal Pharmaceuticals Trading Down 5.9 %

Shares of NASDAQ AMRX opened at $8.47 on Friday. The firm has a fifty day simple moving average of $8.58 and a two-hundred day simple moving average of $7.65. Amneal Pharmaceuticals has a 12 month low of $4.16 and a 12 month high of $9.48. The firm has a market capitalization of $2.62 billion, a PE ratio of -12.46 and a beta of 1.17.

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.