Insider Selling: Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Sells $651,200.00 in Stock

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $8.14, for a total transaction of $651,200.00. Following the completion of the transaction, the director now owns 1,888,886 shares in the company, valued at $15,375,532.04. The trade was a 4.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Wednesday, January 8th, Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals stock. The shares were sold at an average price of $8.01, for a total transaction of $501,345.90.
• On Thursday, January 2nd, Gautam Patel sold 17,410 shares of Amneal Pharmaceuticals stock. The shares were sold at an average price of $8.01, for a total transaction of $139,454.10.

Amneal Pharmaceuticals Trading Down 1.5 %

AMRX stock opened at $7.85 on Friday. Amneal Pharmaceuticals, Inc. has a twelve month low of $5.01 and a twelve month high of $9.48. The company has a market capitalization of $2.43 billion, a P/E ratio of -11.54 and a beta of 1.10. The firm has a 50 day simple moving average of $8.14 and a 200-day simple moving average of $8.23.

Analysts Set New Price Targets

Several analysts have issued reports on AMRX shares. StockNews.com downgraded shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. Piper Sandler increased their price objective on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Institutional Trading of Amneal Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Gladius Capital Management LP acquired a new stake in shares of Amneal Pharmaceuticals during the third quarter worth approximately $37,000. Quest Partners LLC acquired a new position in Amneal Pharmaceuticals in the third quarter worth $84,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Amneal Pharmaceuticals in the fourth quarter worth $81,000. Janney Montgomery Scott LLC acquired a new position in Amneal Pharmaceuticals in the fourth quarter worth $121,000. Finally, Quadrature Capital Ltd acquired a new position in Amneal Pharmaceuticals in the third quarter worth $169,000. Institutional investors and hedge funds own 31.82% 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.