Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel Sells 62,590 Shares of Stock

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $8.01, for a total transaction of $501,345.90. Following the completion of the transaction, the director now directly owns 1,968,886 shares in the company, valued at approximately $15,770,776.86. The trade was a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Gautam Patel also recently made the following trade(s):

• On Thursday, January 2nd, Gautam Patel sold 17,410 shares of Amneal Pharmaceuticals stock. The stock was sold at an average price of $8.01, for a total transaction of $139,454.10.

Amneal Pharmaceuticals Stock Performance

Shares of NASDAQ:AMRX opened at $7.97 on Friday. The firm has a market capitalization of $2.47 billion, a P/E ratio of -11.72 and a beta of 1.10. The stock has a 50 day moving average price of $8.22 and a 200-day moving average price of $8.04. Amneal Pharmaceuticals, Inc. has a 52-week low of $5.01 and a 52-week high of $9.48.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of Amneal Pharmaceuticals by 134.1% in the 3rd quarter. Barclays PLC now owns 296,384 shares of the company’s stock worth $2,466,000 after acquiring an additional 169,756 shares in the last quarter. State Street Corp increased its stake in shares of Amneal Pharmaceuticals by 3.8% during the third quarter. State Street Corp now owns 3,514,721 shares of the company’s stock valued at $29,242,000 after purchasing an additional 127,753 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Amneal Pharmaceuticals by 20.7% during the second quarter. Bank of New York Mellon Corp now owns 751,403 shares of the company’s stock valued at $4,771,000 after purchasing an additional 128,772 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Amneal Pharmaceuticals by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock worth $31,511,000 after purchasing an additional 378,136 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Amneal Pharmaceuticals by 701.8% in the 2nd quarter. Acadian Asset Management LLC now owns 811,853 shares of the company’s stock worth $5,148,000 after buying an additional 710,598 shares during the last quarter. Hedge funds and other institutional investors own 31.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMRX. Truist Financial increased their target price on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Piper Sandler lifted their price objective on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, StockNews.com downgraded 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $10.00.

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.